LG Electronics Licenses Proprietary Iris Recognition Software From Iridian Technologies, Inc.
LG Electronics and Iridian Resolve their Licensing and Intellectual Property Dispute
ENGLEWOOD CLIFFS, N.J., /PRNewswire/ -- LG Electronics, Inc. and its wholly owned subsidiary LG Electronics USA, Inc. (collectively, "LGE") announced that LGE has entered into a license agreement with Iridian Technologies, Inc. (Iridian), a wholly-owned subsidiary of L-1 Identity Solutions, Inc. (L-1), to license proprietary iris recognition software from Iridian.
Concurrently with entering into the license agreement, the parties settled all historical issues and disputes among LGE and L-1, Iridian, and Securimetrics, Inc., a wholly owned subsidiary of L-1 and dismisses the pending litigation in the U.S. District Court for the District of New Jersey, in Newark (LG Electronics U.S.A., Inc. and LG Electronics, Inc., v. Iridian Technologies, Civil Action No. 04-391[(D. N.J.]). Additionally, Iridian assigned to LGE whatever rights Iridian may have in the
"IRISACCESS" trademark. The terms of the agreements are confidential and have not been disclosed. All parties can now move forward together to provide improved products and services to the global iris recognition market.
Charles Koo, Chairman of LGE USA and Robert V. LaPenta, Chairman, President and CEO of L-1 Identity Solutions issued a joint statement today saying, "We are happy to have arrived at a mutually acceptable resolution to this longstanding dispute and believe that it will be an important step forward for the iris recognition industry. Iris-based recognition affords the highest levels of performance and accuracy for authenticating identities. We anticipate that iris will become one of the fastest growing biometric market segments in the future."
About LG Electronics U.S.A., Iris Technology Division
Based in Cranbury, N.J., the Iris Technology Division of LG Electronics, Inc., was established in 2002 to provide global management responsibility and overall direction for strategy, product development, marketing, sales and distribution of the company's iris recognition technology products. LG Electronics' roots as an electronics industry leader trace back to 1958. Today, a leading manufacturer of digital and electronics products, and world leader in monitor technology and optical
disc drives, LG has also established itself on the leading edge of biometric authentication employing iris recognition. For more information, please visit http://www.LGiris.com or http://www.LGusa.com.
About L-1 Identity Solutions
L-1 Identity Solutions, Inc. (NYSE: ID), together with its portfolio of companies, offers a comprehensive set of products and solutions for protecting and securing personal identities and assets. Leveraging the industry's most advanced multi-modal biometric platform for finger, face and iris recognition, our solutions provide a circle of trust around all aspects of an identity and the credentials assigned to it -- including proofing, enrollment, issuance and usage. With the trust and confidence in individual identities provided by L-1 Identity Solutions, government
entities, law enforcement and border management agencies, and commercial enterprises can better guard the public against global terrorism, crime and identity theft fostered by fraudulent identity. L-1 Identity Solutions is headquartered in Stamford, CT. For more information, visit http://www.L1ID.com.
ENGLEWOOD CLIFFS, N.J., /PRNewswire/ -- LG Electronics, Inc. and its wholly owned subsidiary LG Electronics USA, Inc. (collectively, "LGE") announced that LGE has entered into a license agreement with Iridian Technologies, Inc. (Iridian), a wholly-owned subsidiary of L-1 Identity Solutions, Inc. (L-1), to license proprietary iris recognition software from Iridian.
Concurrently with entering into the license agreement, the parties settled all historical issues and disputes among LGE and L-1, Iridian, and Securimetrics, Inc., a wholly owned subsidiary of L-1 and dismisses the pending litigation in the U.S. District Court for the District of New Jersey, in Newark (LG Electronics U.S.A., Inc. and LG Electronics, Inc., v. Iridian Technologies, Civil Action No. 04-391[(D. N.J.]). Additionally, Iridian assigned to LGE whatever rights Iridian may have in the
"IRISACCESS" trademark. The terms of the agreements are confidential and have not been disclosed. All parties can now move forward together to provide improved products and services to the global iris recognition market.
Charles Koo, Chairman of LGE USA and Robert V. LaPenta, Chairman, President and CEO of L-1 Identity Solutions issued a joint statement today saying, "We are happy to have arrived at a mutually acceptable resolution to this longstanding dispute and believe that it will be an important step forward for the iris recognition industry. Iris-based recognition affords the highest levels of performance and accuracy for authenticating identities. We anticipate that iris will become one of the fastest growing biometric market segments in the future."
About LG Electronics U.S.A., Iris Technology Division
Based in Cranbury, N.J., the Iris Technology Division of LG Electronics, Inc., was established in 2002 to provide global management responsibility and overall direction for strategy, product development, marketing, sales and distribution of the company's iris recognition technology products. LG Electronics' roots as an electronics industry leader trace back to 1958. Today, a leading manufacturer of digital and electronics products, and world leader in monitor technology and optical
disc drives, LG has also established itself on the leading edge of biometric authentication employing iris recognition. For more information, please visit http://www.LGiris.com or http://www.LGusa.com.
About L-1 Identity Solutions
L-1 Identity Solutions, Inc. (NYSE: ID), together with its portfolio of companies, offers a comprehensive set of products and solutions for protecting and securing personal identities and assets. Leveraging the industry's most advanced multi-modal biometric platform for finger, face and iris recognition, our solutions provide a circle of trust around all aspects of an identity and the credentials assigned to it -- including proofing, enrollment, issuance and usage. With the trust and confidence in individual identities provided by L-1 Identity Solutions, government
entities, law enforcement and border management agencies, and commercial enterprises can better guard the public against global terrorism, crime and identity theft fostered by fraudulent identity. L-1 Identity Solutions is headquartered in Stamford, CT. For more information, visit http://www.L1ID.com.
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