For more information about the SVPCO Image
Payments Network, contact Susan
Goold, Vice President, Products and Services, SVPCO-Electronic Clearing
Services, 201-319-5554, susan.
"We are convinced that we are developing creative and effective
licensing
and litigation strategies that will have a significant positive impact on
Forgent's
bottom line.
links reference
About Forgent
Forgent Networks (NASDAQ: FORG) develops and licenses intellectual
property and provides scheduling software to a wide variety of customers.flags animated
, KeyCorp, LaSalle Bank
, M+T Bank,
National City Corp., and Wells
Fargo. The DTA enables financial institutions to
transmit
check images directly to each other cost-effectively and without
cumbersome centralized data processing
.
Safe Harbor
This release may include projections and other forward-looking
statements
that involve a number of risks and uncertainties and as such, actual
results in future
periods may differ materially from those currently
expected or desired.burkina variants
The Image Payments
Network is the nation's private-sector leader in image
payments by dollar value and total number
of items, according to publicly
available information."
Susan Long, Senior Vice President
of The Clearing House, responsible for
SVPCO-Electronic Clearing Services said: "The Image Payments
Network
experienced its 13th straight month of record volume in January. Financial institutions can
see their net debit or
credit position online and view their position with all of the institutions
participating in the Image Payments Network at any time.goold@svpco. Services include local and
regional check exchange and settlement
services; ACH association and operations; large-value "wire
" payments;
electronic check presentment; and image exchange.flags burkina
"Check image volume in the Image
Payment Network is growing rapidly
because participating financial institutions are quickly recognizing
the
system's enormous potential for cost reduction and improved efficiencies,"
said George Thomas
, Executive Vice President of The Clearing House.9
trillion per day.S., today announced it has
reached
agreements with new counsel regarding the licensing and litigation
of United States Patent No.links images
In January 2005, when the Image Payments Network began operations, daily
average dollar value
was $2.6 million, total monthly dollar value was $55
million, daily average items were 850, and total
monthly items were 18,000.
Through January, institutions participating in the Image Payments
Network
were Bank of America, Comerica Bank, EDS, The Federal Reserve Bank, Fifth
Third, HSBC
Bank, JPMorgan Chase + Co.C.S.burkina com
svpco. "In
January, the Image Payments Network set two records for
volume and one for
total dollars, and we expect that growth rate to continue for the foreseeable
future. In the past
two months, four institutions -- Comerica, M+T, La Salle and HSBC -- have
all
begun sending images via the Image Payments Network.com.S. banking affiliates: Bank of
America
, The Bank of New York, Bank of Tokyo-Mitsubishi/Union Bank of
California, BB+T, City National Bank
, Citibank, Citizens Bank, Comerica Bank,
Deutsche Bank, First-Citizens Bank, HSBC Bank, JPMorgan
Chase Bank, KeyBank,
LaSalle Bank, M+T Bank, National City Bank, PNC Bank, UBS, U.faso links
For January
, SVPCO reported the following data for the Image Payments
Network:
* $4. We urge institutions
of all sizes to participate in the
Image Payments Network, the only image exchange system connected
to the
Federal Reserve. For additional
information please visit www.forgent. Some of the factors
that could cause actual results to
differ materially include changes in the general economy and the
technology
industry, rapid changes in technology, sales cycle and product
implementations, risks
associated with transitioning to a new business
model and the subsequent limited operating history
, the possibility of new
entrants into the scheduling software market, the possibility that the
market
for the sale of certain software and services may not develop as
expected, that development of these
software and services may not proceed
as planned, risks associated with the company's license program
, including
risks associated with litigation involving intellectual property, patents
and trademarks
, merger activities and acquisition integration.variants com
Historical data can be found at http://www.com.
Automated
settlement provides real-time net and bilateral settlement position
reporting and eliminates the
manual intervention required with other
settlement arrangements.L.
District Court for the Eastern
District of Texas," said Richard Snyder,
chairman and CEO of Forgent.theodora former
Financial institutions of
all sizes benefit from payment systems that meet the highest standards for
reliability, security
and service.Forgent Announces Agreement With New Law Firms
The '672 Patent relates to digital
image compression, and fields of use
include digital still image device used to compress, store,
manipulate,
print or transmit digital still images such as digital cameras, personal
digital assistants
, cellular telephones, printers, scanners, and certain
software applications. The company's patent
portfolio includes the
combined inventions of Compression Labs, Inc., VTEL Corporation, and
Forgent
Networks, Inc.com history
We will be adding additional financial institutions
in the coming months. The network
enables financial institutions to exchange and settle
check images peer-to-peer, without a cumbersome
central processing system,
thereby eliminating the expense of transporting physical checks., Union
Bank of California, Wachovia Corp. Godwin Gruber LLP ("Godwin"), a large trial and appellate
firm
, will be its new lead counsel for the '672 Patent, and The Roth Law
Firm ("Roth") will remain as
local counsel in Marshall, Texas.image flag
9 million in total monthly items, an increase of 19 percent compared
to December 2005
* The peak day of the month was January 30, when 1,212,209 items
were
transmitted
* Twelve banks were exchanging images, in addition to significant
volume
being exchanged through the network's connection to the Federal Reserve
and
EDS.
Two banks were exchanging images through the Image Payments Network in January
2005.
All financial institutions that exchange images directly with each other
via the Image Payments
Network utilize the automated settlement function.
Forgent's intellectual property licensing program
is related to
communication technologies developed from a diverse and growing patent
portfolio
.former several
L.1 billion in daily average dollar value, an increase of 18 percent
compared to December 2005
* $82. The DTA works in conjunction with
existing item-processing systems to link institutions
into the network and
enables institutions to directly exchange payloads of electronic images.
Forgent Networks (NASDAQ: FORG) along with
its wholly owned subsidiary, Compression Labs, Inc.
Forgent has
initiated litigation against 44 companies for infringement of the '672
Patent in
the United States District Court for the Eastern District of
Texas, Marshall Division.
"Our
new legal team brings additional competencies and resources for
licensing as well as recent successful
litigation expertise in the U."
Since its inception three years ago, Forgent's intellectual property
program has generated more than $100 million from licensing the '672 Patent
to more than 35 different
companies in Asia, Europe and the United States.country facts
SVPCO Image Payments Network Posts Double-Digit Gains
13th Consecutive Month
of Record Volume
NEW YORK, SVPCO
-Electronic Clearing Services, the
electronic check and check image exchange business of The Clearing
House
Payments Company L."
The Image Payments Network is a single, end-to-end system that
provides
unparalleled control, security and processing efficiency for transmitting and
settling
check images and other data directly between participants in the
industry. Through its relationship
with the Federal Reserve, the Image Payments
Network can reach more than 10,000 endpoints and help
financial institutions
of all sizes take advantage of image exchange.facts images
, today reported that check
image volume in the Image
Payments Network jumped significantly in January from the previous month
and
continues to grow at double digit rates in both dollar volume and total items.S. Forgent's software
division, NetSimplicity provides a spectrum
of scheduling software that enables all sizes of organizations
to
streamline the scheduling of people, places and things.flags several
theclearinghouse.
The company will now
keep up to 74% of all licensing revenue and up to 58%
of all litigation proceeds after payment to
both current and former legal
counsel. Additional
discussion of these and other risk factors affecting
the company's business
and prospects is contained in the company's periodic filings with the SEC
.
facts burkina
3 billion in total monthly dollar value, an increase of 12 percent
compared to December
2005
* 693,949 in daily average items, an increase of 25 percent compared to
December
2005
* 13.
(http://www.org) is a private-sector, global payment systems
infrastructure
that clears and settles 48 million payments for more than $1. The Clearing House Payments Company is
owned by the following banks or their U. 4,698,672 (the '672 Patent) and foreign
counterparts
.com.variants reference
Check Image Volume Grew Rapidly in January 2006
How the Image Payments Network works
Image exchanges and settlement are conducted through SVPCO's Distributed
Traffic Agent (DTA
), a solution developed by SVPCO with VECTORsgi, one of its
strategic technology partners. financial
institutions and hundreds of international participants with payment services
that span the entire
spectrum of paper, paper-to-electronic and electronic
payments.
The new agreements increase
Forgent's portion of the '672 Patent proceeds.animated flag
Under the prior fee agreement, the license and litigation
revenue
were split evenly between Forgent and its former legal counsel.faso former
The addition of volume
from
these four institutions and the other financial institutions already
connected to the network is
responsible for the exponential growth in volume
from just six months ago. Bank, Wachovia
Bank
, and Wells Fargo Bank. "In addition, the new agreements will provide
a greater financial return to
Forgent shareholders."
Forgent
Networks
"We are excited about this opportunity to help Forgent achieve further
success
with the '672 Patent," replied G. Michael Gruber, CEO and vice
chairman of the board, chair of commercial
litigation section - Dallas.variants com
C.
About The Clearing House Payments Company
The Clearing
House Payments Company L. The Clearing House serves more than 1,600 U.variants gif
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