Top Image Systems Ltd. (TISA), a leading ECM or Enterprise Content Management and BPM or Business Process Management solution and MIP or Mobile Imaging Platform provider, said that as of Monday, all pending litigation between Mitek Systems Inc. and Top Image Systems Ltd. has been settled.
TIS has defended itself against the patent infringement case filed by Mitek in September 2012 and has considered the lawsuit without merit.
As per the terms of the agreement, each party is responsible for covering its own respective legal fees. No other consideration is to be exchanged.
"I am satisfied that as a result of the outcome of their litigation with USAA, Mitek realized that their case against TIS was weak and their patent portfolio was ineffective. With this litigation behind us, TIS is prepared for exponential growth of our innovative mobile imaging platform and applications in the U.S. and around the globe," said Izhak Nakar, Founder and Executive Chairman of Top Image Systems.
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