Cogent Systems and Northrop Grumman Reach Agreement to Settle Automated Fingerprint Identification Technology Suit and Create St
10 Septembre 2007 - 2:00PM
PR Newswire (US)
LOS ANGELES, Sept. 10 /PRNewswire-FirstCall/ -- Cogent Systems
(NASDAQ:COGT) and Northrop Grumman Corporation (NYSE:NOC) today
announced that they have reached an agreement to settle Cogent's
lawsuit against Northrop Grumman regarding Cogent's automated
fingerprint identification technology. The agreement is subject to
negotiation and execution of definitive documents. Under the terms
of the agreement, Northrop Grumman has agreed to pay Cogent $25
million to settle the litigation. Northrop Grumman also has agreed
to pay Cogent $15 million for a non-exclusive license to use
specified Cogent state-of-the-art automated fingerprint
identification software in certain existing programs, including
IDENT1. Northrop Grumman and Cogent also have agreed to enter into
a five-year research and development, service and products
agreement, under which Northrop Grumman will pay Cogent $20 million
for products and services over the term of the agreement. Northrop
Grumman does not expect the terms of the settlement to have an
impact on its guidance for 2007. This settlement will end the
litigation and allow the companies to work together as strategic
alliance partners to provide future customers with state-of-the-art
fingerprint identification technology and other biometric
solutions. Cogent filed suit in 2005 alleging that Northrop Grumman
had misappropriated its proprietary technology and trade secrets
for automated fingerprint identification software for use on the
IDENT 1 contract with the British Police Information Technology
Organisation, and its successor the National Policing Improvement
Agency. Northrop Grumman Corporation is a $30 billion global
defense and technology company whose 120,000 employees provide
innovative systems, products, and solutions in information and
services, electronics, aerospace and shipbuilding to government and
commercial customers worldwide. Cogent is a global biometric
identification solutions provider to governments, law enforcement
agencies, and commercial enterprises. Cogent provides the highest
quality identification systems, products and services with leading
technology, accuracy and speed. Cogent's Automated
Fingerprint/Palmprint Identification Systems, or AFIS, enable
customers to capture fingerprint and palm print images
electronically, encode prints into searchable files, and accurately
compare a set of fingerprints/palm prints to a database containing
potentially millions of prints in seconds. Forward-Looking
Statements This press release contains, in addition to historical
information, forward-looking statements. Such statements are based
on management's current estimates and expectations and are subject
to a number of uncertainties and risks that could cause actual
results to differ materially from those described in the
forward-looking statements. Cogent and Northrop Grumman are
providing this information as of the date of this press release,
and expressly disclaim any duty to update information contained in
this press release. Forward-looking statements in this press
release include, without limitation, express and implied statements
regarding the timing and terms of the definitive documents related
to the settlement, potential revenue that may be received by Cogent
under the proposed settlement documents and the potential benefits
of the anticipated business relationship between Cogent and
Northrop Grumman. These forward-looking statements involve risks
and uncertainties which could cause actual results to differ
materially from those expressed or implied here. Readers are
referred to Cogent's Report on Form 10- Q for the quarter ended
June 30, 2007 filed by Cogent with the Securities and Exchange
Commission which identifies important risk factors that could cause
actual results to differ from those contained in the
forward-looking statements, including but not limited to: the risk
that negotiations over the definitive documents may result in the
inclusion of provisions that modify the anticipated timing or
benefits currently anticipated; and risks that issues not currently
anticipated will delay, modify or impair the completion of the
settlement. The information contained in this press release is a
statement of Cogent's and Northrop Grumman's present intention,
belief or expectation and is based upon, among other things,
existing industry conditions, market conditions, the economy in
general and Cogent's and Northrop Grumman's assumptions. Either
Cogent or Northrop Grumman may change its intention, belief or
expectation, at any time and without notice, based upon any changes
in such factors, in its assumptions or otherwise. Neither Cogent
nor Northrop Grumman undertakes any obligation to review or confirm
analysts' expectations or estimates or to release publicly any
revisions to any forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. By including any information in this press
release, neither Cogent nor Northrop Grumman necessarily
acknowledges that disclosure of such information is required by
applicable law or that the information is material. DATASOURCE:
Northrop Grumman Corporation CONTACT: media, Dan McClain,
+1-310-201-3335, or investors, Gaston Kent, +1-310-201-3423, both
of Northrop Grumman Corporation; or Chris Danne, +1-415-217-7722,
or Rakesh Mehta, +1-415-217-7722, both of The Blueshirt Group for
Cogent Systems Web site: http://www.northropgrumman.com/
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