Cross-Licensing Agreement Reached between Burroughs and Panini

PLYMOUTH, Mich. and TORINO, Italy, Nov. 22, 2013 /PRNewswire/ -- Burroughs, Inc. and Panini have reached an agreement to cross-license Burroughs CAPI patent (6,546,396) and Panini check feeding patent (6,966,554).

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"We are pleased to come to an agreement with Panini to license its common API software interface product in conjunction with our CAPI patent," says Alan Howard, CEO of Burroughs, Inc. 

Panini CEO Michael Pratt adds, "Our cross licensing of these patents is in the best interests of our customers and partners.  The arrangement enables both firms to focus on market requirements and innovation."

Specific terms have not been made public.

About Burroughs

Burroughs, Inc. offers its customers access to world-class service, industry-leading technology, and overall support for a portfolio of technology related needs. Our vast portfolio consists of repeatable and custom solutions like the SmartSource® check and document scanners, SmartCash™ cash automation solutions; ATM products, ATM parts, enterprise servers, device performance management software, asset recovery, and supplies combined with implementation and maintenance services. The sales organization works directly with clients in more than 55 countries worldwide as well as with value-added resellers, and distributors. Today, our focus on payment systems related technologies and services results in numerous efficiencies for anyone who processes check and cash transactions.  For more information, visit www.burroughs.com

About Panini

Founded in Turin, Italy, Panini has enabled clients to capitalize on shifts in the global payments processing market for more than sixty years.  Panini has a rich history of technology innovation, and Panini's market leading solutions are based on state-of-the-art research & development and ISO-9001 quality certified production. Panini offers capture solutions that enable customers to fully realize the advantages and efficiencies available with the digital transformation of the paper check, resulting in the world's largest deployed base of check capture systems, now approaching one million devices. Panini's scalable capture solutions digitize checks and payment related documents and transactions to address the complete range of distributed check processing opportunities including teller capture, back-counter capture, remote deposit capture, point-of-sale capture and remittance processing. The company provides solutions on a global basis, and has direct subsidiary operations in the United States covering North America and in Brazil covering Latin American markets.  For more information visit www.panini.com.

SOURCE Burroughs, Inc.

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