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 Cogent Systems and UPEK Inc. Announce Settlement and Patent License Agreement
“We are pleased with the licensing agreement that we have reached with UPEK for the use of our technology,” commented Ming Hsieh, President and Chief Executive Officer of Cogent. “We believe UPEK offers exceptional solutions for the commercial market with a strong global customer presence. This patented technology that we are licensing is an important component of our offerings in the commercial market and we look forward to partnering with UPEK to help us address this fast growing opportunity.” “The algorithm technology UPEK has licensed allows us to bring additional fingerprint authentication products and software solutions to an even wider range of customers,” stated Alan Kramer, UPEK CEO and President. “We believe Cogent offers industry leading algorithms and are excited by the opportunity to deliver new solutions and applications to a growing number of worldwide markets based on the agreement we have reached with them.” About Cogent Systems About UPEK Inc. Forward-Looking Statements Forward-looking statements in this press release include, without limitation, express and implied statements regarding potential revenue related to the licensing agreement. These forward-looking statements involve risks and uncertainties which could cause actual results to differ materially from those expressed or implied here. Readers are referred to Cogent's Report on Form 10-Q for the quarter ended June 30, 2007 filed by Cogent with the Securities and Exchange Commission which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including but not limited to: changes in government policies; uncertain political conditions in international markets; deriving a significant portion of revenues from a limited number of customers; deriving a significant portion of revenues from the sale of solutions pursuant to government contracts; failure of the biometrics market to experience significant growth; failure of Cogent’s products to achieve broad acceptance; potential fluctuations in quarterly and annual results; changes in Cogent’s effective tax rate; failure to successfully compete; failure to comply with government regulations; failure to accurately predict financial results due to long sales cycles; negative publicity and/or loss of clients due to security breaches resulting in the disclosure of confidential information; loss of export licenses or changes in export laws; failure to manage projects; rapid technology change in the biometrics market; loss of a key member of management team; termination of backlog orders; loss of limited source suppliers; negative audits by government agencies; failure to protect intellectual property; and exposure to intellectual property and product liability claims, including claims that UPEK’s products infringe the intellectual property of third parties. The information contained in this press release is a statement of Cogent's present intention, belief or expectation and is based upon, among other things, existing industry conditions, market conditions, the economy in general and Cogent's assumptions. Cogent may change its intention, belief or expectation, at any time and without notice, based upon any changes in such factors, in its assumptions or otherwise. Cogent undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. By including any information in this press release, Cogent does not necessarily acknowledge that disclosure of such information is required by applicable law or that the information is material. UPEK and the UPEK logo are registered trademarks or trademarks of UPEK, Inc. in the United States and other countries. All other trademarks or registered trademarks are the property of their respective owners. For more information, contact: UPEK Inc. |
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South Pasadena, CA and Emeryville, CA – September 6, 2007 - Cogent Systems (Nasdaq: COGT) and UPEK, Inc. announced today that they have reached a settlement and patent licensing agreement. Under the terms of this agreement Cogent has withdrawn its lawsuit against UPEK Inc. for infringement of U.S. Patent number 6,002,815 (entitled "Linear Sensor Imaging Method and Apparatus"). The agreement eliminates the need for any further court proceedings related to use of this patent and will allow UPEK to incorporate certain Cogent patented technologies for use with their fingerprint biometric sensor products and solutions.