Tuesday, April 21, 2009
EXIGENT AND PREPAID NETWORK CORP. SETTLE PATENT INFRINGEMENT LAWSUIT
MIAMI, FL. April 2009 -- Exigent Technology Inc., the intellectual property holding company affiliated with the Blackstone group of companies, announced today that it has amicably settled a patent infringement lawsuit it filed against Prepaid Network Corp., also of Miami, Florida.
Exigent is the owner by assignment of United States Patent No. 6,651,885, entitled “Multi-Function Transaction Processing System,” which issued on November 25, 2003, and for which the United States Patent and Trademark Office issued an Ex-Parte ReExamination Certificate on August 19, 2008. Using a POS terminal or touch-screen, menu-driven system, merchants can print or activate prepaid cards -calling cards, gift cards, Internet service, wireless recharge cards, etc.- (electronic PINs are delivered via an integrated thermal card printer), accept checks, smart cards and ATM/debit/EBT (electronic benefit transfers) cards, process Visa, MasterCard, American Express and Discover Card transactions and view real-time reports.
The lawsuit alleged that Prepaid Network deployed through its retail customer network a system infringing multiple claims of Exigent’s ‘885 Patent.
Exigent and Prepaid Network amicably settled the lawsuit on confidential terms. Prepaid Network has recognized the ‘885 Patent and engaged PinservE, another in the Blackstone family of companies and licensee of the ‘885 Patent, for hosting, encryption, security PIN deployment and transaction workflow for its clients. Prepaid Network is excited about the new relationship and possibilities for future business between it and the Blackstone family of companies. The parties agreed to dismiss the lawsuit with prejudice.
Established in 1995, Blackstone has successfully managed to bring a complete end-to-end prepaid program to all retailers regardless of their size. Our comprehensive proprietary platform provides complete merchant solutions from credit/debit processing, prepaid products and bill payment solutions through a multitude of interactive touch screen systems. Our unique Point-of-Sale systems have dual prepaid capabilities, which no other company can offer. Blackstone consistently provides merchants with competitive prepaid and processing rates to meet all of their sales and processing needs. For more information about Blackstone and all their products and services, please visit our website www.blackstoneonline.com or contact us at 1-800-639-9590.