ICAP Ocean Tomo to Auction Smart Card Technology at Upcoming Live Auction Event

ICAP Ocean Tomo, the intellectual property brokerage division of ICAP plc (IAP.L), today announced it will offer for sale a patent portfolio of smart card technology at its upcoming Live Auction March 25, 2010, in San Francisco. The portfolio contains two U.S. issued patents, one non-U.S. patent, and three U.S. patent applications.

Smart card technology has undergone significant advancements since the first carbon card imprint. The patents of this portfolio describe a ‘hybrid’ smart card design that incorporates integrated circuit and magnetic memories for storing data. As stated by inventor Josef Osterweil, “This technology allows for tomorrow’s security today as it introduces “Secure Swipe” technology to existing smart card infrastructure.” U.S. patent 7,591,427 describes this ‘hybrid’ design which utilizes a matrix of electronic conductors for writing data on magnetic stripes. Each electronic conductor can be used to write multiple bits, thus reducing the total number of electronic conductors needed on each smart card. U.S. patent 7,591,426 enables the reading and writing of data to take place on magnetic stripes using a similar matrix to the patent described above.

Approximately 5 billion smart cards were shipped worldwide in 2008, a number expected to grow by 11% annually through 2012.1 “The impact of smart card technology on global commerce is undeniable,” said Dean Becker of ICAP Ocean Tomo. “This portfolio should interest to companies manufacturing smart cards such as those used by banks, retailers, and security solution providers.”

To learn more about the patent available for sale in this lot, visit http://icapoceantomo.com/item-for-sale/smart-card-magnetic-recording. To learn how you can register to attend the upcoming Live Auction, please contact ICAP Ocean Tomo at 1-866-779-8363 or at [email protected]

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