Friday, February 5, 2016
Crossroads Systems Looks For Buyer After Patent Setback
Austin-based Crossroads Systems, which owns a pool of network storage systems patents, said Thursday that it is exploring "strategic alternatives" for its business, including an outright sale of its business, after four adverse decisions issued in January from the U.S.Patent and Trademark Office. Crossroads said it is appealing those decisions, due to what it called "errors of both fat and law" in those rulings. Among other moves, Crossroads said it will look at "near-term alternatives" to monetize roughly 135 patents and pending patents it holds. Crossroads--once a major provider of storage area networking equipment--has in recent years been far more focused on patent litigation.