Axis announces settlement with Compression Labs Inc.
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Axis today announces settlement of the patent infringement lawsuit brought against its American subsidiary Axis Communication Inc. by Compression Labs Inc.
The lawsuit on patent infringement that was brought against Axis Communications Inc, Axis American subsidiary, by Compression Labs Inc. has been settled on terms that are beneficial to both parties. Compression Labs Inc. initiated during spring 2004 the lawsuit, on patent infringement in the area of image compression.
"Details on the settlement are confidential. However, I welcome the settlement both from a resources and from a financial point-of-view", said Ray Mauritsson, CEO of Axis Communications.
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About Axis Axis increases the value of network solutions. The company is an innovative market leader in network video and print servers. Axis' products and solutions are focused on applications such as security, surveillance, remote monitoring and document management. The products are based on in-house developed chip technology, which is also sold to third parties.
Axis was founded in 1984 and is listed on the O-list (Attract 40) of Stockholmsbörsen (XSSE: AXIS). Axis operates globally with offices in 16 countries and in cooperation with distributors, system integrators and OEM partners in 70 countries. Markets outside Sweden account for more than 95% of sales. Information about Axis can be found at www.axis.com.