Actionable news
0
All posts from Actionable news
Actionable news in UPIP: Unwired Planet, Inc.,

Upip - Unwired Planet Inc To Divest Patent Business Corporate Call EVENT DATE/TIME: APRIL 06, 2016 / 9:00PM GMT

Unwired Planet - Chairman

Boris Teksler

Unwired Planet - Former CEO

PRESENTATION

Operator

Good day and welcome to the Unwired Planet conference call. Todays call is being recorded and at this time I would like to turn the conference over to Lauren Sloane. Please go ahead.

- The Blueshirt Group - IR

Thank you. Good afternoon and thank you for joining us today. Joining me on this afternoons call are Boris Teksler, Chief Executive Officer, and Richard Chernicoff, Chairman of the Board of Directors for Unwired Planet.

Today we will discuss the recent announcement and the strategic rationale behind the Companys decision to divest the IP business, as recently announced at the close of market today, April 6. If you have not seen a copy of the press release, you can find it on our website at www.unwiredplanet.com.

For your convenience, this call is being recorded and will be available for playback from our website. Further, any remarks that may be made on this call or included in our press release about future performance, plans, objectives and strategies of the Company constitute forward-looking statements which are pursuant to the Safe Harbor provision of Section 27-A of the Securities Act of 1933 and Section 21-E of the Securities Act of 1934. Such forward-looking statements do not constitute guarantees of future performance and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements. We assume no obligation to update any forward-looking information discussed on this call and we encourage you to refer to the Safe Harbor language included in our press release and our periodic reports filed with the SEC which describe risk factors that may impact our future results.

I would like to note that we have also posted a presentation on the Companys website which we will refer to during the following prepared remarks. Please find the presentation available on the investor relations website under Events at www.unwiredplanet.com/investors.

With that, Ill turn the call to Rich.

- Unwired Planet - Chairman

Thank you, Ms. Sloane, and good afternoon, everyone. Thank you for joining us on todays call. Id like to spend some time this afternoon discussing our announcement that weve entered into an agreement to divest our patent business. Were going to start by providing additional background on the deal, then explaining the rationale for the transaction and finally our go-forward strategy. Unwired Planet is a long way from the $6.3 billion phone.com/software.com merger in 2000. In anticipation of our next transformation, we have made significant changes in our board. Notably, Jess Ravich, Peter Reed and Steve Wilson and I have extensive knowledge and experience in mergers and acquisitions, investment management and leveraged finance. We created a strategic committee of our board last summer to explore ways to enhance stockholder value and provide Unwired Planet with financial stability. One of the alternatives included the possibility of selling our patent business, an option that became more attractive based on changes in the legal system and political landscape as well as our financial resources.

With the sale of the patent business, Unwired Planet is now positioned to pursue the next step of corporate development and deliver enhanced stockholder value. We believe we are now positioned to build a profitable investment management...


More