Blast Motion and Diamond Kinetics Enter into License Agreement
(PITTSBURGH, Pennsylvania – January 15, 2019) – Blast Motion, Inc. (“Blast Motion”) and Diamond Kinetics, Inc. (“Diamond Kinetics”) have settled the patent case that Blast Motion filed against Diamond Kinetics in the Western District of Pennsylvania and have entered into a patent license agreement. Under the terms of the agreement, Diamond Kinetics will pay Blast Motion royalties for a two-year term on its SwingTracker products and will receive a license to United States Patent Nos. 8,903,521; 8,905,855; 9,039,527; 9,076, 041; and 9,401,178 (“Blast Motion Patents”). As part of the agreement, Blast Motion and Diamond Kinetics have agreed that any future disputes regarding the Blast Motion Patents will be resolved by arbitration. As part of the agreement, Diamond Kinetics acknowledges the validity of the Blast Motion Patents and that its current SwingTracker product practices aspects of the Blast Motion Patents.
Sr. Director, Marketing