Nets and Cryptomathic Settle Dispute

Cambridge, UK - 3  May  2011

Nets (previously BBS, Norway and PBS, Denmark) and IT security vendor Cryptomathic have announced that a settlement has been reached to resolve a disagreement regarding the interpretation of a patent owned by Cryptomathic. The patent concerns the method related to user authentication coupled with digital signatures using server-side keys. The dispute relates to the Norwegian security solution BankID.

Following last year's verdict at Oslo Tingrett (Oslo District Court), both parties appealed to Lagmannsretten (the Court of Appeal). Today, Nets and Cryptomathic have withdrawn their appeals and agreed to a settlement that offers advantages to both parties. Through this arrangement, Nets has received a license for the use of Cryptomathic's patents for central signature servers in Norway.

The founder of Cryptomathic, Prof. Peter Landrock, explains: "We have been cooperating with various entities of the Nets group of companies for more than a decade now and we are committed to evolving our cooperation further over the years to come. The patent dispute has been a serious roadblock impeding the further extension of cooperation so I am very pleased that we were finally able to settle our dispute. The settlement agreement recognises Cryptomathic's technical contributions as well as Nets' requirements to maintain and expand its leadership as a supplier of secure, scalable and user-friendly digital signature solutions."

Concerning the relationship with Cryptomathic, Jesper Bramming, CFO of Nets, adds: "Cryptomathic is second-to-none within its field. We are pleased to announce that Nets has obtained the license rights to make use of Cryptomathic's patents as part of the agreement with Cryptomathic. The cooperation with Cryptomathic will help secure Nets' continued growth and competitiveness."

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