For Immediate Release: Contact: Eric Wetzel
World's Largest Maker of Electronic Transaction Terminals
Settles with DataTreasury
On day of trial, Ingenico admits DataTreasury's patents are valid and enforceable
Melville, NY : DataTreasury Corporation, a small check-processing company, announced today that a major patent-infringement lawsuit brought against France's Groupe Ingenico, the world's foremost maker of point-of-sale electronic transaction terminals, has been settled and that a licensing deal has been reached. This lawsuit was one of several highly publicized suits DataTreasury filed in federal court against a variety of banks and payment-processing companies. The Ingenico settlement follows settlements with banking giant JPMorgan Chase, check-processing software provider NetDeposit, Inc., and RDM Corporation, a leading manufacturer of transaction terminals and check-image repositories.
DataTreasury had accused Ingenico of infringing U.S. Patent Nos. 5,910,988 and 6,032,137, which were issued to DataTreasury in 1999 and 2000 for image capture, centralized processing and electronic storage of document and check information. These patents describe a technology process capable of implementing the federally enacted Check Clearing for the 21st Century Act, popularly known as "Check 21."
Part of Ingenico's settlement is documented in the form of a Consent Judgment filed in the Texarkana division of the U.S. District Court for the Eastern District of Texas, a document similar to those filed by former defendants JPMorgan Chase and Bank One. As with JPMorgan Chase and Bank One, Ingenico's Consent Judgment (available for view at www.datatreasury.com/consentdocuments) acknowledges the validity and enforceability of DataTreasury's patents.
Ingenico has now been granted a license by DataTreasury, allowing the company to utilize the patents on a worldwide basis. Terms of the licensing agreement are confidential. "This is another major victory for our investors," said DataTreasury CEO Keith DeLucia, "particularly since it comes just weeks after the licensing deal we struck with Community Banking Systems, a cutting-edge document-imaging company. Our licensing program is thriving."
"Ingenico was represented by Larry Nixon of Nixon & Vanderhye, perhaps the nation's most accomplished intellectual property law firm, and he fought us right up to the trial date," said Ed Hohn, lead attorney for the plaintiff. "But Ingenico wound up folding its hand and admitting that it couldn't bust DataTreasury's patents" just like JPMorgan Chase. I am excited to see the Court enter yet another Consent Judgment stating that these patents are valid and enforceable. Our trial team will now enforce this company's intellectual property rights by trying First Data Corporation, Wells Fargo, Bank of America, Citigroup and the rest of the defendants on the only real issues that remain "infringement, damages and willfulness damages. Let the trials begin!"
About DataTreasury Corporation
A privately owned company, DataTreasury was formed in 1998 and is built around the patents covering its "Global Repository Platform," which is the world's most functional and secure informational management system. DataTreasury was issued the patents in 1999 and 2000 for image capture, centralized processing and electronic storage of document and check information. Several countries have recognized the patentability of this technology, and DataTreasury has many other pending patent applications surrounding this system.
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November 7, 2005