Monday, April 24, 2006
Exigent and PRE Solutions Settle Patent Infringement Lawsuit
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 PRE Solutions, Inc.. The settlement reached grants PRE Solutions a non-exclusive license to Exigent’s United States Patent No. 6,651,885, entitled “Multifunction Transaction Processing System,” which issued on November 25, 2003. PRE Solutions will also pay to Exigent an undisclosed settlement and license fee.
Exigent alleged in 2004 that PRE Solutions deployed through its retail customer network a system infringing multiple claims of the ‘885 Patent. The parties have agreed to dismiss with prejudice the current litigation filed in federal court.
About Blackstone: A pioneer of the prepaid telecommunications industry, Blackstone is currently one of the country’s largest providers of prepaid products and services with thousands of retail locations nationwide. Established and headquartered in Miami, Florida since 1995, Blackstone provides innovative solutions to local, national and international companies seeking to maximize their full potential – from calling cards, POS terminals, merchant processing, marketing & distribution to self-service, interactive kiosks. For more information on Blackstone’s products and services, visit www.blackstoneonline.com or call 305.639.9590.
About PRE: PRE Holdings, Inc., along with its subsidiaries PRE Solutions, Inc. and ITC Financial Services, LLC, is a leading provider of prepaid transaction processing solutions. With a range of products designed to offer retailers powerful revenue opportunities in prepaid products and other services, the company’s solutions are fast, easy-to-use and eliminate the need for a retailer to purchase and manage prepaid product inventory. PRE Holdings’ inventory features real-time product delivery, detailed transaction reporting and point-of-sale activation. PRE’s product line includes prepaid wireless airtime, long-distance cards, gift cards, music downloads, ringtones and games, online games, the Mio™ Money Prepaid MasterCard®, and the Mio™ Now Card. Mio Cards are issued by BankFirst and offered by ITC Financial Licenses, Inc. PRE currently serves more than 60,000 retail locations throughout the United States. To learn more about PRE Holdings, Inc, visit our websites at www.preholdings.com or www.miocard.com. PRE is headquartered in Norcross, GA with offices in San Juan, Puerto Rico, Jacksonville, FL and Cherry Hill, New Jersey.