On April 19, 2017 Spherix Incorporated (Nasdaq: SPEX) an intellectual property development company committed to the fostering of technology and monetization of intellectual property, reported that it has acquired an economic interest in a new patent portfolio that is largely unlicensed to any third party (Press release, Spherix, APR 19, 2017, View Source [SID1234538993]).

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Spherix and its partner Equitable IP Corporation have acquired an economic interest and the right to monetize a valuable portfolio in the fiber optic technology space as part of their ongoing patent monetization efforts. The newly acquired portfolio consists of approximately 112 patents and is largely unlicensed.

Anthony Hayes, Chief Executive Officer of Spherix, stated, "By working with Equitable IP Corporation, we’ve expanded the number of Equitable’s assets that can be monetized to now over 400 patents. The addition of these new patents to Equitable’s portfolio increases our potential revenue generation. This is part of our continued efforts to increase value for our shareholders."