OTI Files Patent Infringement Suit Against T-Mobile
27 March 2012 - 5:00PM
On Track Innovations Ltd. ("
OTI") (Nasdaq:OTIV)
today announced the filing of a patent infringement lawsuit
alleging that T-Mobile USA, Inc. sells Near Field Communication
(NFC) enabled phones that infringe OTI's U.S. Patent No. 6,045,043.
NFC technology enables contactless payments with mobile phones,
loyalty programs, data mining, and other applications. The lawsuit
is pending in the United States District Court for the Southern
District of New York, Case No. 12-CV-2224.
This patent is part of OTI's extensive intellectual property
portfolio, including over 100 issued patents and pending patent
applications encompassing product applications, software platforms,
system and product architecture, product concepts and more in the
fields of Near Field Communications (NFC), contactless payments,
secure ID, petroleum and parking solutions.
"We believe in the strength and value of our intellectual
property and have the resources to protect it," said Oded Bashan,
OTI Chairman and CEO. "We are also happy to provide innovative
technology and partner with others in the industry to facilitate
the growing future of contactless payments, data capture, loyalty
programs, and more."
OTI is a pioneer in the contactless payment market and supported
MasterCard and Visa, among others, in the creation and
implementation of contactless transaction processing and payment
solutions. OTI provides NFC devices and reader solutions including
the COPNI (Contactless Payment and NFC Insert) device, which adds
NFC capability to existing (non-NFC) mobile phones.
"This lawsuit is another step in OTI's ongoing strategy to
leverage its IP assets, following the recently announced technology
license agreement with a multibillion dollar corporation, and the
issuance in January this year of OTI's U.S. Patent No. 8,090,407,
entitled "Contactless Smart SIM," Bashan explained.
About On Track Innovations Ltd.
(www.otiglobal.com)
On Track Innovations Ltd. ("OTI") designs,
develops and markets secure identification, payment and transaction
processing technologies and solutions for use in secure ID, payment
and loyalty applications based on its extensive IP portfolio. OTI
combines state-of-the-art contactless microprocessor-based
technologies and enabling hardware with proprietary software
applications to deliver high performance, end-to-end solutions that
are secure, robust and scalable. OTI solutions have been deployed
around the world to address homeland security, national ID, medical
ID, Near Field Communication (NFC), contactless payment and loyalty
applications, petroleum payment, parking and mass transit
ticketing. OTI markets and supports its solutions through a global
network of regional offices and alliances.
The On Track Innovations Ltd. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5736
Safe Harbor for
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. Whenever we use words such as "will", "believe,"
"expect," "anticipate," "intend," "plan," "estimate" or similar
expressions, we are making forward-looking statements. Because such
statements deal with future events and are based on OTI's current
expectations, they are subject to various risks and uncertainties
and actual results, performance or achievements of OTI could differ
materially from those described in or implied by the statements in
this press release. For example, forward-looking statements include
statements regarding our goals, beliefs, future growth strategies,
objectives, plans or current expectations such as statements
related to the expected revenues to be generated from this patent.
Forward-looking statements could be impacted by market acceptance
of new and existing products and our ability to execute production
on orders, as well as the other risk factors discussed in OTI's
Annual Report on Form 20-F for the year ended December 31, 2010,
which is on file with the Securities and Exchange Commission.
Although OTI believes that the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it
can give no assurance that its expectations will be achieved.
Except as otherwise required by law, OTI disclaims any intention or
obligation to update or revise any forward-looking statements,
which speak only as of the date hereof, whether as a result of new
information, future events or circumstances or otherwise.
The content of websites or website links mentioned or provided
herein are not part of this press release.
CONTACT: OTI Contacts:
Galit Mendelson
VP, Corporate Relations
732 429 1900 ext. 111
galit@otiglobal.com
Jay M. Meier
SVP, Business Development & Investor Relations
OTI America, Inc.
732 429 1900 ext. 104
jaym@otiglobal.com
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