Precision Dynamics Corporation and Proximities Incorporated Settle Lawsuit
San Fernando, CA (May 21, 2007) – Precision Dynamics Corporation (PDC), an innovator of automated wristband identification, and Proximities, Inc. (Melbourne, FL), a developer of RFID (radio frequency identification) business solutions, have amicably settled a lawsuit filed by PDC in July of 2006 alleging patent infringement.
Under the terms of the settlement agreement, PDC and Proximities have agreed to cross license certain Intellectual Property (IP) related to the development of RFID wristbands and the option to supply each other with products. The companies view their respective products, PDC’s wristband media and Proximities' RFID system solutions, as complementary and see synergies in bringing RFID cashless payment to the leisure and entertainment market. Further terms of the settlement remain undisclosed.
Precision Dynamics provides RFID consulting services and products focused on consulting, application development, and project management. PDC customizes RFID applications based on each customer's unique business goals, objectives, and infrastructure. The company introduced the first patented RFID wristband, Smart Band®, which is used for automated admissions, guest identification, cashless point-of-sale (POS), keyless entry, and more.
Proximities' RFID system solution, SmarTTender™, integrates diverse POS platforms into a single cashless payment solution that offers a venue real-time insight into their business operations.
About Precision Dynamics
With over 50 years of experience, PDC is a global leader and pacesetter in the development of Auto ID wristband systems for healthcare, leisure and entertainment, and law enforcement. The company introduced the first patient Bar Code ID Wristband, patented Smart Band® Radio Frequency Identification (RFID) Wristbands, the AgeBand® Age/ID System, and PDC Smart Kiosk® Cashless RFID System. PDC is committed to 100% quality in service, design, and manufacturing and has ISO-9001: 2000 and ISO-13485: 2003 certification. For more information, visit www.pdcorp.com
About Proximities, Inc.
Proximities, Inc. is a privately held company headquartered in Melbourne, FL. The company develops and markets a suite of secure RFID business solutions for the leisure and entertainment market. For more information, visit www.proximities.com.