Recognia Inc. and MDIO Software (Pty) Ltd. announced today that they have entered into a settlement agreement that includes a patent license arrangement with respect to Recognia's patented intellectual property in the United States and Canada. As a result of this settlement, Recognia has filed a motion to dismiss its civil action against MDIO Software (Pty) Ltd. (a/k/a Autochartist and/or Autchartist.com) and Ilan Azbel (Civil Action No. 4:13-CV-02195) in the United States District Court, Southern District of Texas, Houston Division. Additional details of the agreement were not disclosed.
The patents that are the subject of this license agreement relate to Recognia’s inventions concerning methods for determining pattern candidates in time-series data, chart markup and annotation in technical analysis, and providing a financial event identification service.
About Recognia(www.recognia.com) Recognia is a global leader in actionable technical analysis and automated quantitative research. Available for more than a decade, Recognia is now accessible to more than 20 million traders and investors globally. With presence in New York, Boston, Ottawa, Hong Kong, London, Kuala Lumpur and New Delhi. Recognia has coverage of more than 85 exchanges worldwide, and analyzes more than 65,000 instruments daily including equities, indices, ETFs, FX and futures.