Acusensus (ASX:ACE) reached a settlement with Redflex Traffic Systems to dismiss Federal Court proceedings brought by Redflex and with Acusensus providing a settlement package of AU$6 million and 6.1 million new shares in the firm to VM Consolidated, a wholly-owned unit of Verra Mobility, the parent company of Redflex, without admission of liability or any wrongdoing, according to a Friday Australian bourse filing.

Acusensus IP, a unit of the firm, will continue to be the registered proprietor of its existing worldwide patent portfolio. Acusensus agreed to provide a global non-exclusive license of relevant patents held by Acusensus IP to relevant Redflex entities and their affiliates.

The parties and their affiliates released one another from all claims on a worldwide basis related to the dispute and any associated actions.