ROSH PINA, Israel, May 13, 2013 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. ("OTI") (Nasdaq:OTIV) today provided an update regarding the patent infringement lawsuit alleging that Near Field Communication (NFC) enabled phones sold by T-Mobile USA, Inc. infringe OTI's U.S. Patent No. 6,045,043. A technology tutorial followed by a claim construction (Markman) hearing before the Court, was completed this week. In the hearing, the Court considered the meaning of certain technical terminology used in the patent claim. The lawsuit is pending in the United States District Court for the Southern District of New York and was filed in March, 2012. The date of the Court's decision following the Markman hearing was not specified.
This patent is part of OTI's extensive intellectual property portfolio, including over 100 issued patents and pending patent applications encompassing product applications, software platforms, system and product architecture, product concepts and more in the fields of NFC, contactless payments, secure ID, petroleum and parking solutions.
The board of directors of OTI has recently established a dedicated patent committee to leverage the intellectual property of OTI. The committee is assessing several options to do so.
OTI is a pioneer in the contactless payment market and supported MasterCard and Visa, among others, in the creation and implementation of contactless transaction processing and payment solutions. OTI provides NFC devices and reader solutions including the COPNI (Contactless Payment and NFC Insert) device, which adds NFC capability to existing (non-NFC) mobile phones.
On Track Innovations Ltd. ("OTI") designs, develops and markets secure identification, payment and transaction processing technologies and solutions for use in secure ID, payment and loyalty applications based on its extensive IP portfolio. OTI combines state-of-the-art contactless microprocessor-based technologies and enabling hardware with proprietary software applications to deliver high performance, end-to-end solutions that are secure, robust and scalable. OTI solutions have been deployed around the world to address homeland security, national ID, medical ID, Near Field Communication (NFC), contactless payment and loyalty applications, petroleum payment, parking and mass transit ticketing. OTI markets and supports its solutions through a global network of regional offices and alliances.
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CONTACT: OTI Contact: Galit Mendelson VP, Corporate Relations 732 429 1900 ext. 111 firstname.lastname@example.org
Source:On Track Innovations Ltd.