Englewood company buys Texas business, 14 patents
An Englewood company that plans to develop office centers equipped with remote video conferencing technology has acquired a Texas firm and 14 patents.
Buffalo Pacific is building a 8,000-square-foot “community portal” center on Experiment Farm Road in Troy, with ambitions to build more around the country.
The Troy center should be completed by the end of the year and the developers are still securing leases for the three tenant spaces, with the health care, finance and education sectors targeted as tenants.
The center inTroy is intended for businesses that want to lease a space where people in Troy can communicate long distance, like remote bank tellers or teachers lecturing from another campus.
Buffalo Pacific announced in a statement this week that it signed an agreement to buy Telepresence Technologies, based in Plano, Texas.
With the acquisition, Buffalo Pacific gets 13 U.S. patents and one EuropeanUnion patent for holographical reality, which is the technology at the center of the Englewood company’s communication portals at its Troy office center.
David Allen, chairman and CEO of Buffalo Pacific, said in a statement that “acquiring TPT is the culmination of a long-standing strategy to implement the revolutionary holographical reality patent portfolio within the architecture of Community Portals built by Buffalo Pacific.”
Telepresence Technologies, founded in 2004, will continue to operate as a wholly-owned subsidiary.