Boxlight Corporation BOXL yesterday announced that it has acquired three LAN-based screen-sharing patents and one pending patent application from Circle Technology.
These acquisitions are part of the company’s software strategy and have been made with a view to enhance protection around its education-software solutions. The move makes sense as protecting wireless screen sharing has become important amid increasing adoption of one-to-one student devices.
Protection of its solutions should increase Boxlight’s confidence in business and help it increase focus on revenue-generating opportunities such as licensing.
Hank Nance, COO at Boxlight, stated, "Collaboration between teachers and students on front-of-classroom visual devices, and collaboration between students on their one-to-one devices, is an increasingly important part of the classroom." "Our recent efforts on software development have an emphasis in this area, and I am pleased to know we can go forward as an industry leader with strong IP protections in place," he added.
Notably, shares of Boxlight have gained 24.5% over the past six months, compared with 77.8% rally of the industry it belongs to and 23.2% growth of the Zacks S&P 500 composite.
Zacks Rank and Key Picks
Currently, Boxlight has a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader Zacks Business Services sector are CoreLogic CLGX, Republic Services RSG, Elastic N.V. ESTC. While CoreLogic sports a Rank #1 (Strong Buy), Republic Services and Elastic stocks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term expected earnings per share (three to five years) growth rate for Republic Services, CoreLogic and Elastic is 7.9%, 12% and 26%, respectively.
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