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Tranax update on invalidation of two Nautilus Hyosung ATM related patents by the Korean IPT.Clarification regarding a prior press release on the dismissal and invalidation of Nautilus Hyosung’s patent claims
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| Publish Date: February 14, 2008 | Show all Press Releases |
 Newark, CA – February 14th, 2008 – Tranax Technologies, Inc., a leading developer of ATMs and self-service terminals, announced an update and clarification today regarding a prior press release dated February 1, 2008, on the dismissal and invalidation of Nautilus Hyosung’s patent claims. As stated in the February 1, 2008 announcement, the two patent claims brought by Nautilus Hyosung, for the ATM cash dispenser and locking mechanism, were dismissed by the Intellectual Property Tribunal (“IPT”) of the Korean Intellectual Property Office. However Tranax has just been notified that due to the significantly delayed date-of-service on Nautilus Hyosung by the IPT of the invalidation order in the most recent locking mechanism case, the appeal period did not expire on January 27, 2008 as Tranax had previously been advised. Tranax has now been advised that Nautilus Hyosung has filed an appeal to this invalidation order. Dr. Hansup Kwon, President and CEO of Tranax Technologies, Inc. commented “We believe that the invalidation order will be upheld on appeal by the Korean court. We look forward to focusing on our business in 2008 as we work through the appeal process.” |
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About Tranax Technologies Tranax leads the self-service industry in the design, development, manufacture, and sale of self-service technology to the retail, banking, hospitality, entertainment, and gaming industries. Founded in 1986 by Dr. Hansup Kwon, the company has now sold over 100,000 ATMs installed across North America. Since the beginning, Tranax has been known for its innovative, high-value products, but what really differentiates the company from its larger competitors is its strong focus on product quality and reliability, customer service and support, and the entrepreneurial and visionary founder. The company was selected by Frost and Sullivan to receive the Growth Strategy Leadership Award for 2006 “for its outstanding ability to make rapid strides into the highly competitive ATM market in North America.” For more information please visit www.tranax.com Contact Information:
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