Systems Corporation today noted its position as the largest outside
shareholder of Immersion Corporation (NASDAQ: IMMR), a leading
provider of tools and technologies that allow users to physically
feel their software. Cybernet's 9.9% ownership stake in the company
is a direct result of Immersion's March 1999 acquisition of Cybernet's
Force Feedback business and patent portfolio. Cybernet's 1,396,110
shares are worth $60 million at the current $43 share price.
obviously extremely pleased with the demonstrated return on our
investment in Immersion Corporation," noted Dr. Charles Jacobus,
president and CEO of Cybernet. "As a company focused on developing
and commercializing advanced technology, it was important to us
to find a strong partner for our Force Feedback technology. It
appears that Immersion has been extremely successful in productizing
and widely licensing this technology."
Cybernet's innovations related to Force Feedback are embodied
in the comprehensive portfolio of intellectual property acquired
by Immersion that includes U.S.Patents No. 5,389,865, No. 5,459,382,
No. 5,629,594, No. 5,754,023, No. 5,769,640, No. 5,831,408, No.
5,844,392, and No. 5,822,438 as well as many pending patent applications.
Immersion has since licensed this technology to Logitech, Microsoft
and many other leading computer software, peripheral and game
in 1993, Immersion Corporation develops hardware and software
technologies that enable users to interact with computers using
their sense of touch. Immersion's patented technologies, which
it calls TouchSense(TM), enable computer peripheral devices to
deliver tactile sensations that correspond to on-screen events.
Immersion licenses its TouchSense technology to hardware manufacturers
for Web, personal computing, entertainment, medical and other
Systems Corp. is a profitable, rapidly growing research and development
company focused on commercializing technology that combines software
and Internet intelligence with man-machine interaction. Cybernet
has successfully leveraged its wealth of intellectual property
to bring Force Feedback technology to market in the form of game
controllers and joysticks, and introduced the first Linux-based
Internet appliance software. The company continues to innovate
in the areas of Internet medical systems, large-scale distributed
network training and gaming and gesture control interface technology.
Additional information on Cybernet Systems is available on the
web at http://www.cybernet.com.