TEXARKANA, Texas--(BUSINESS WIRE)--June 4, 2003--DataTreasury Corp. today announced that Canadian-based RDM Corp. has settled a lawsuit involving the two companies that will allow RDM to obtain a nonexclusive worldwide license for the use of DataTreasury's technology.
Under the agreement RDM will pay DataTreasury for each check imaging terminal that will be used, and pay a per-click royalty for storage of electronic documents and check information, calculated at around a 50 percent royalty rate. Major financial institutions have paid up to 3.2 cents per electronic document imaging and storage.
Only JP Morgan Chase remains as a defendant in the lawsuit.
The agreement comes one day after Dallas-based Affiliated Computer Services ("ACS") agreed to settle by the entry of a permanent injunction barring the use by ACS of DataTreasury's patented remote image capture and storage technology.
A claims construction hearing will be held today in the U.S. District Court, Eastern District of Texas, Texarkana Division, in a multi-billion dollar patent infringement action (Civil Action No. 502CV124 (DF), DataTreasury Corporation vs. J.P. Morgan Chase & Company, J.P. Morgan Chase Bank, Affiliated Computer Services Inc., and ACS Image Solutions). The permanent injunction expressly recites that the electronic archive project as proposed by JP Morgan Chase in their joint venture with ACS was covered by the DataTreasury patents. The agreement and permanent injunction will end the lawsuit enabling both ACS and DataTreasury to focus on collaborative ventures.
RDM Corp is one of the world's largest point-of-sale check imaging repository manufacturers.
DataTreasury, formed in 1998, is built around its patents covering its "Global Repository Platform" (GRP), the world's most functional and secure informational management system. DataTreasury was issued patents in 1999 and 2000 for image capture, centralized processing and electronic storage of document and check information.
DataTreasury, a privately owned company, has filed similar lawsuits in Texarkana and Dallas against Electronic Data Systems, ViewPointe Archive Services (comprised of large U.S. companies involved in electronic payment processing), and Groupe Ingenico, a French company with its U.S. subsidiary based in Georgia that makes point-of-sale terminals, scanners and other electronic payment equipment (Civil Action No. 502CV095, DataTreasury Corp. vs. Ingenico, S.A., d/b/a Groupe Ingenico, Ingenico Inc., TASQ Technology Inc. Global Cardserve LLC d/b/a Retriever Payment Systems Inc.).
The Texarkana litigation is before United States District Judge David Folsom and today's hearing is before The Honorable Magistrate Judge Caroline Craven.