Patent cases dismissed

In October 2013, Accumulate AB filed a lawsuit against Seamless Distribution AB (publ) for alleged patent infringement. In August 2014, Seamless filed a lawsuit against Accumulate where Seamless claimed that Accumulate’s patent should be declared invalid.

On September 15, 2017, the Swedish Patent and Market Court announced its judgements in both cases. The judgements were appealed by Accumulate to the Swedish Patent and Market Court of Appeal, and the court has now decided to dismiss both cases.

The reason behind the dismissal of the cases is that the parties have reached a settlement with the purpose to final, and without any further delay, regulate the issues that have been dealt with in both cases. The settlement provides that the parties shall withdraw the action and that the parties agree on the understanding that Seamless has not committed a patent infringement and that Accumulates patent (SE1050585-7, SE537539) will continue to be valid.

The settlement also provides for financial compensation to Seamless related to legal costs.
 

For more information, please contact:  

Martin Schedin, CFO, martin.schedin@seamless.se, +46 8 564 878 00
 

This is information that Seamless Distribution AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 8:50 a.m. CET on November 14, 2017.

About Seamless

Since 2001 Seamless has been providing its proprietary solutions and systems for mobile phone transactions. Seamless operates in two main business areas; mobile phone payment solutions (provided through the brands SEQR© and MeaWallet™) and distribution of e-products. www.seamless.se

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About Us

Seamless is a global mobile payments company that provides electronic top-up systems and mobile payment services for mobile operators, distributors, retailers and consumers. Founded in 2001 and active in 35 countries, Seamless handles more than 5.3 billion transactions annually through 675,000 active sales outlets. Seamless has four main business areas: 1. Seamless Distribution Systems: Platform enabling digital distribution for Service Providers2. Seamless eProducts: Technology provider for distribution of physical and electronic products3. Seqr: Mobile Payment Platform4. MeaWallet: Provider of Host Card Emulation (HCE) and tokenization platform Seamless is truly an international company with customers all over the world. Our ambition is to be close to our customers, therefore, we have global sales, support and operations in Sweden, India, UAE, Pakistan, Ecuador, Belgium and Ghana, etc.In the last decade, we emerged as a trusted supplier and partner with technical excellence, business knowledge and commercially viable solutions. Our customers and long standing partnerships hold testimony to the quality of our product offerings and the efficiency of our services. As we move into the future, we aspire to continue exploring new grounds in mobile technology and introduce path-breaking products.

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