Acusensus Reaches AU$16 Million Settlement With Redflex To Dismiss Federal Court Proceedings

MT Newswires Live

Feb 06

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.

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Acusensus agreed to provide a global non-exclusive license of relevant patents held by Acusensus IP to relevant Redflex entities and their affiliates.</p><p>The parties and their affiliates released one another from all claims on a worldwide basis related to the dispute and any associated actions.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7016","symbol_name":"应用软件","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2609268534","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2609268534","pubTimestamp":1770344280,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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