DALLAS--(BUSINESS WIRE)--Today, Avanci announced that it has signed a patent license agreement with BMW Group that will to a large extent be handled through its supplier for telematics units, providing them access to the essential wireless technology of many different telecommunication and patent holding companies.
As part of Avanci’s mission to streamline patent licensing for the Internet of Things, it provides license rights to 2G, 3G and 4G essential patents at a fair, flat rate that is the same for all vehicles regardless of the price and the number of telematics units installed. This rate will not increase over the term of the license, no matter how many additional patent owners join the platform in the future beyond the 11 companies that have joined the platform to date.
“Our agreement with BMW Group and its supplier demonstrates our commitment to finding a common ground between the different industries that must cooperate together in the Internet of Things,” said Kasim Alfalahi, founder and chief executive officer of Avanci. “Ultimately, we’re committed to provide a simpler way to handle licensing in the IoT space by taking into account both patent owners’ and IoT device manufacturers’ business models to increase certainty, reduce risk and streamline technology sharing for all involved.”
Avanci has a vision that sharing technology, on a broad scale for the Internet of Things industry, can be simpler. Our connected world is evolving quickly – and we want to help it all happen even faster. Our one-stop solution keeps the success of the ecosystem squarely in sight, bringing convenience and predictability to the technology licensing process. In our new marketplace, those with essential patents can share their innovations, and companies creating connected products for the Internet of Things can access the patented wireless technology they need to be successful – in one place, with one agreement and for one fair, flat rate. Founded in 2016, Avanci is headquartered in Dallas. For more information about Avanci, please visit http://www.avanci.com.