Asentinel Announces Patent Licensing Agreement with Veramark Technologies

MEMPHIS, Tenn.--(BUSINESS WIRE)--Asentinel, a technology-driven telecom lifecycle management company, on the heels of its recent multi-million dollar license agreement, today announced it has entered into a second Telecom Expense Management (TEM) patent license agreement. Under the terms of the agreement, Asentinel has provided a worldwide non-exclusive license to U.S. Patent Nos. 7,340,422 and 7,805,342 and related U.S. and foreign counterpart patent applications to Veramark Technologies.

“With strong growth realized in the TEM market, we believe companies, and TEM service organizations, will look to providers with the technology necessary to legally provide the services needed.”

These patents owned by Asentinel relate to systems and methods of processing and analyzing expense invoices that enable large corporate users to save millions of dollars on their telecommunications services. These patents include more than 80 claims issued by the United States Patent and Trademark Office.

On September 30, 2010, Asentinel announced that it had filed a patent infringement complaint against three competitors: AnchorPoint, Cass Information Systems, and Veramark Technologies. Asentinel filed the complaint in the United States District Court for the Western District of Tennessee accusing the defendants of infringing the referenced patents. Terms of the agreement are confidential, except that the parties agreed to jointly file a stipulation dismissing Veramark from the pending litigation.

“Recognizing the distinctiveness of our application and solution, we sought to protect our technologies and intellectual property long ago and are pleased with the increasing success of our patent licensing,” said Asentinel CEO David C. Perdue. “With strong growth realized in the TEM market, we believe companies, and TEM service organizations, will look to providers with the technology necessary to legally provide the services needed.”

Asentinel is represented by Sterne Kessler Goldstein & Fox PLLC and Farris Bobango PLC.

About Asentinel

Asentinel meets the needs of customers by providing telecom life-cycle management through comprehensive TEM solutions and services—saving its customers millions of dollars since its inception in 2002. Asentinel holds the only comprehensive United States patents (#7340422 and #7805342) in Telecom Expense Management for its groundbreaking software, Asentinel 7.0. Asentinel is headquartered in Memphis, Tenn., and has offices throughout the US and in Europe. For more information, please visit www.asentinel.com.