Business Services Industry
Yodlee and CashEdge Reach Settlement Agreement Resolving Patent Litigation
Business Wire, Sept 27, 2007
REDWOOD CITY, Calif. & NEW YORK -- Yodlee, Inc. and CashEdge Inc., today announced that they have reached a settlement agreement resolving the patent litigation between them in the United States District Court for the Northern District of California.
CashEdge has agreed to pay Yodlee for a license to the Yodlee patents at issue, with respect to CashEdge's current products and services.
About Yodlee
Leading financial institutions trust Yodlee to power critical online banking applications that increase profitability and drive more value from the online channel. Yodlee's proven consumer banking, payments solutions, wealth management, and risk management applications unify all personal financial account information to deliver a simple, centralized and secure way for consumers to manage all of their financial tasks - any time, anywhere. Yodlee makes financial institutions' websites essential to their customers and generates new revenue opportunities. Over 100 leading financial institutions and portals, including AOL, Bank of America, Fidelity, JPMorgan Chase, Merrill Lynch, and MSN, today offer Yodlee-powered solutions to millions of customers worldwide. Yodlee operates in the United States and Europe and is headquartered in Redwood City, California. For more information, visit www.yodlee.com.
About CashEdge
CashEdge([R]) provides innovative, online financial applications for banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer and data consolidation. These proven solutions are flexible, scalable and supported by extensive risk management capabilities. Working with CashEdge, financial institutions are able to create compelling online offerings that attract customers, generate revenues and reduce costs.
CashEdge has been ranked by Inc. magazine as one of the 500 fastest growing private companies in the United States for two years in a row and recognized by the 2007 Deloitte Technology Fast 50 as one of the fifty fastest growing companies in the New York area. The company currently serves more than 600 leading financial institutions including five of the top ten banks. CashEdge has offices in New York and Silicon Valley. For more information, please visit www.cashedge.com.
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