Parlay Entertainment Inc., the Internet and TV bingo software provider, has announced an agreement with 1st Technology, a technology developer, which settles a patent infringement suit brought against Parlay Entertainment by 1st Technology.
The settlement pertains to all of Parlay's direct and indirect software licensing activities up to the date of settlement. There was no admission of liability by either party.
”Given the cost of patent litigation, we determined that it would be a prudent corporate action to negotiate a settlement with 1st Technology,” said Scott White, Parlay's chief executive, in a prepared statement.