Top Image Systems Settles Pending Patent Infringement Litigation With Mitek Systems
TEL AVIV, Israel and NEW YORK, Sept. 9, 2014 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (TISA), a leading ECM (Enterprise Content Management) and BPM (Business Process Management) solution and MIP (Mobile Imaging Platform) provider announces that all pending litigation between Mitek Systems, Inc. and Top Image Systems, Ltd. has been settled as of September 8, 2014.
TIS has defended itself against the patent infringement case filed by Mitek in September 2012 and has considered the lawsuit without merit. Under the terms of the agreement, each party is responsible for covering its own respective legal fees. No other consideration is to be exchanged.
"I am satisfied that as a result of the outcome of their litigation with USAA, Mitek realized that their case against TIS was weak and their patent portfolio was ineffective. With this litigation behind us, TIS is prepared for exponential growth of our innovative mobile imaging platform and applications in the U.S. and around the globe," said Izhak Nakar, Founder and Executive Chairman of Top Image Systems. "TIS offers the broadest multichannel capture and processing coverage on the market, and we look forward to sharing our innovations with financial institutions and enterprises worldwide."
