Axis announces settlement with Compression Labs Inc.
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.