FORT MYERS, Fla.-NeoMedia Technologies Inc. and AirClic Inc. reached an out-of-court settlement agreement that concludes a patent infringement dispute that started in April 2004.
NeoMedia, which makes technology that provides automatic links to Internet-based information, sued AirClic for patent infringement. AirClic filed a lawsuit that sought to invalidate several of NeoMedia’s patents.
Terms of the settlement were not released, however, Charles W. Fritz, NeoMedia’s founder and chairman, said AirClic must compensate NeoMedia now and in the future. Both companies have dropped their respective lawsuits and have left open the possibility for future collaboration, he said.
“Each company has enormous opportunity, yet in very different markets,” said John E. Parker, president of AirClic. “Given the reality of how far our respective business models have diverged over the years, we are satisfied with this outcome.”
NeoMedia last month reached a settlement agreement with Virgin Entertainment that called for Virgin to license the company’s PaperClick technology through 2016.
