March 18, 2010 (FinancialWire) — Single Touch Interactive, Inc. (OTCBB: SITO) said that it has signed a patent sale and license agreement with Microsoft Corp. (NASDAQ: MSFT). Specific terms of the agreement have not been disclosed.

The agreement included the sale of six Abbreviated Dialing Code US patents by Microsoft to Single Touch Interactive, with a license back to Microsoft, and a license under pending applications held by Single Touch Interactive in the Abbreviated Dialing Code space.

According to Single Touch, Microsoft has reserved a number of Abbreviated Dialing Codes it may choose to use at some future point in time.

Abbreviated Dialing Codes are short telephone numbers such as 411 that may also spell a brand name. This form of dialing was introduced by Single Touch in 2005 and, according to the company, is increasingly used by mobile telephone subscribers.

California-based Single Touch Systems provides wireless operators, consumer brands, and retailers with mobile marketing and commerce delivery solutions.

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