Intercede Share News (IGP)

Investors checked out Intercede today after the security systems software developer said it has settled patent infringement disputes "on mutually acceptable terms".ActivIdentity, an American firm whose software helps confirm a person's identity when interacting digitally, filed a lawsuit against Intercede's MyID products in October 2008. A counter claim from the UK company filed in the High Court last December alleged invalidity, violations of US antitrust law, fraud and unfair competition. It admitted the settlement includes a patent license, but said all other details are confidential."This settlement ensures that Intercede's worldwide partners and customers can continue to benefit from our leading MyID Identity and Credential Management System with confidence," said Intercede's chairman and chief executive, Richard Parris.Intercede will take a charge to the current financial year for all of the exceptional costs associated with the legal fees, and doesn't expect the patent license agreement to have a material impact on current or future earnings.