TEMPE, AZ and SAN DIEGO, CA and LAMBERTVILLE, NJ -- (MARKET WIRE) -- 03/26/10 -- Limelight Networks, Inc. (NASDAQ: LLNW), and Twister Investments, LLC, today announced that the companies have entered into a patent licensing agreement in exchange for an undisclosed fee paid by Limelight to Twister.
As a result of the agreement, Limelight Networks, Twister Investments, and Allied Security Trust (AST) have agreed to execute a Stipulation of Dismissal with Prejudice for the purpose of dismissing with prejudice the declaratory judgment action Limelight Networks, Inc. v. Allied Security Trust and Twister Investments, LLC, United States District Court, District of Arizona, Case No. 2:10-cv-00585-NVW.
"Limelight respects AST's goals and its charter, and we are pleased to bring this matter to a rapid and mutually agreeable resolution," said Philip Maynard, chief legal officer, Limelight Networks, Inc.
"As a purely defensive organization helping to minimize the exposure of operating companies to adversarial patent holders, we are appreciative of Limelight's efforts to find a quick and mutually agreeable resolution," responded Dan McCurdy, chief executive officer, Allied Security Trust.
This press release contains forward-looking statements concerning the company's operations and use of intellectual property. Forward-looking statements are not guarantees and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, the inherent risks associated with litigation, particularly intellectual property-based litigation. The Company assumes no duty or obligation to update or revise any forward-looking statements for any reason.
About Allied Security Trust
AST (www.alliedsecuritytrust.com) is a member-owned Delaware Statutory Trust that identifies and analyzes high-technology patents being sold on the market, circulates those to its 16 member companies (each with annual revenues US $1 billion), and combines funds of interested member companies to purchase patents. It then sells the patents subject to licenses granted to those members, with proceeds returned to the members that funded the purchase. To date, it has invested US $40M to purchase 400 patents. For patent portfolios that have been sold by the Trust or are currently on the market, 82% of the money originally invested by Trust members to obtain their patent license has been returned to them at the time the patents are sold, making the Trust by far the most economical collaborative mechanism in the world for members to obtain licenses to patents that may otherwise fall into the hands of an adversarial party.
About Limelight Networks, Inc.
Limelight Networks, Inc. (NASDAQ: LLNW) is trusted by the world's most innovative enterprise, entertainment, technology, and software brands to improve the performance and profitability of web sites and end-user experiences. Our scalable, on-demand managed infrastructure solutions provide global reach and consistent high availability, by routing traffic over a private fiber-optic backbone rather than through the often-congested, unpredictable public Internet. For more information, visit our web site (http://www.limelightnetworks.com), read our blog (http://blog.llnw.com), or follow @llnw (http://www.twitter.com/llnw) on Twitter.
Copyright © 2010 Limelight Networks, Inc. All rights reserved. All product or service names are the property of their respective owners.
CONTACT: Paul Alfieri of Limelight Networks, Inc., +1-917-297-4241, firstname.lastname@example.org