Citing the high cost of litigation, Canadian bingo software specialist signs agreement with 1st Technology.
Friday 29th August 2008
Canadian online and television bingo software solutions provider Parlay Entertainment Incorporated has signed an agreement with 1st Technology to settle an ongoing patent infringement case.
1st Technology brought the action against Parlay asserting patent rights that enhanced the interactivity along with optimising the delivery of high quality multimedia information over various bandwidth networks.
Parlay revealed that a Stipulation and Order of Dismissal had been filed with the United States District Court for the District of Nevada while the confidential agreement contained a stipulation where neither party admits liability. It stated that the arrangement pertains to all of its direct and indirect software licensing activities up to the date of settlement.
'Given the cost of patent litigation, we determined that it would be a prudent corporate action to negotiate a settlement with 1st Technology,” said Scott White, Chief Executive Officer for Parlay.
“We are pleased to have reached an agreement which provides us with certainty.'
'We are pleased to have this dispute with Parlay resolved and look forward to working with other leading companies to assist in achieving compatibility with 1st Technology's intellectual property,” read a statement from 1st Technology.
Canadian online and television bingo software solutions provider Parlay Entertainment Incorporated has signed an agreement with 1st Technology to settle an ongoing patent infringement case.
1st Technology brought the action against Parlay asserting patent rights that enhanced the interactivity along with optimising the delivery of high quality multimedia information over various bandwidth networks.
Parlay revealed that a Stipulation and Order of Dismissal had been filed with the United States District Court for the District of Nevada while the confidential agreement contained a stipulation where neither party admits liability. It stated that the arrangement pertains to all of its direct and indirect software licensing activities up to the date of settlement.
'Given the cost of patent litigation, we determined that it would be a prudent corporate action to negotiate a settlement with 1st Technology,” said Scott White, Chief Executive Officer for Parlay.
“We are pleased to have reached an agreement which provides us with certainty.'
'We are pleased to have this dispute with Parlay resolved and look forward to working with other leading companies to assist in achieving compatibility with 1st Technology's intellectual property,” read a statement from 1st Technology.