LAKELAND, Fla., Dec. 3, 2010 /PRNewswire/ -- Innovatier settles its pending litigation with CardLab.
Innovatier announced an agreement has been reached with CardLab in relation to the recent litigation filing between the Companies. "I am happy to announce this settlement," stated Lawrence J. Keim, Innovatier's Executive Vice President. "We have had a strong working relationship in the past and look forward to continuing that relationship in bringing innovative products to the market."
"It is unfortunate we had this dispute," stated Hans-Henrick Eriksen, CardLab's CEO. "But I am satisfied that Innovatier considered our position and we were able to negotiate terms and conditions of an agreement favorable to both Companies."
Innovatier's Reaction Injection Embedding® technology encapsulates active electronic components into unique and reliable packaging solutions while offering the integration of its ProTeCut® technology to deliver maximum component protection. The company's simple and scalable manufacturing processes are easy and inexpensive compared to more conventional methods. In addition, the processes have the capability of realizing any 3-dimensional shape such as exact-parameter cards, circular wrist bracelets, or other desired forms.
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CardLab Aps is the world leader in the development and manufacturing of ultra thin, low power electronics for the card industry. CardLab also licenses propriety technology to OEM companies. The unique Snap Switch specifically developed for hot lamination, two track dynamic magnetic stripe and autonomous biometric cards are among CardLab's products. CardLab also participates in a wide range of applications ranging from gift cards to biometric identity and financial cards.
CardLab Aps is dedicated to bringing new technology to the card industry whilst ensuring continued use of a proven and reliable infrastructure.