Phunware Engages Stout to Monetize Intellectual Property Portfolio

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AUSTIN, Texas--(BUSINESS WIRE)-- Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, has engaged Stout Capital (“Stout”) to monetize the Company’s intellectual property (IP) portfolio, including both its patent and data assets.

Stout’s Intellectual Property Advisory & Transactions (IPAT) practice positions Stout as the only fully integrated team of investment bankers, valuation and dispute experts, attorneys and technical experts with the ability to execute a full spectrum of IP services required by IP-rich technology companies.

“We are extremely excited by the opportunity to generate more value for our shareholders from the vast portfolio of patents and data that we’ve built over the past eleven years,” said Tushar Patel, Phunware’s EVP of Corporate Development. “We engaged Stout to leverage their deep industry relationships and to specifically explore creative, non-dilutive licensing, commercialization and financing solutions that are backed by the financial value of our intellectual property, but allow us to maintain ownership.”

Phunware’s IP portfolio in the United States currently includes 17 issued patents and 4 pending patent applications, including the Company’s most recently announced award as United States Patent No. 10,740,799, entitled “Systems and Methods for Enterprise Branded Application Frameworks for Mobile and Other Environments.”

Click here to learn more about the comprehensive patent portfolio underlying the Company’s Multiscreen-as-a-Service (MaaS) enterprise cloud platform for mobile, including both its Customer Data Platform (CDP) and Data Ontology.

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This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “expose,” “intend,” “may,” “might,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

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By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

About Phunware, Inc.

Everything You Need to Succeed on Mobile — Transforming Digital Human Experience

Phunware, Inc. (NASDAQ: PHUN), is the pioneer of Multiscreen-as-a-Service (MaaS), an award-winning, fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & Phun) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with more than one billion active devices touching its platform each month. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://www.phunware.com, https://www.phuncoin.com, https://www.phuntoken.com, and follow @phunware, @phuncoin and @phuntoken on all social media platforms.

About Stout

Stout is a trade name for Stout Risius Ross, LLC, Stout Advisors SA, Stout Bluepeak Asia Ltd., Stout GmbH, MB e Associati S.r.l., Stout Park Ltd, and Stout Capital, LLC, a FINRA-registered broker-dealer and SIPC member firm. The terms “Stout” or the “firm” refer to one or more of these legally separate and independent advisory practices. Please see www.stout.com/about to learn more.

Phunware PR & Media Inquiries:
press@phunware.com
T: (512) 693-4199

Phunware Investor Relations:
Matt Glover and John Yi
Gateway Investor Relations
Email: PHUN@gatewayir.com
Phone: (949) 574-3860

Source: Phunware, Inc.

Released November 25, 2020