Digital Angel (DOC) Finalizes Patent Infringement Against Datamars

August 27, 2007 8:07 AM EDT

Digital Angel Corporation (AMEX: DOC) has finalized a global settlement of its patent infringement litigation against Datamars, Inc., Datamars S.A., The Crystal Import Corporation and Medical Management International, Inc.

Under the terms of the settlement, the parties have granted mutual releases and the claims have been dismissed. Financial terms of the settlement were not disclosed.

Barry M. Edelstein, interim President and Chief Executive Officer of Digital Angel, said, "Protection of our intellectual property is a high priority, and we are therefore very pleased with this resolution to our litigation with Datamars. The settlement puts this matter behind us and allows us to focus exclusively on our business operations. With the resolution of this and other litigation matters, we expect to significantly reduce our litigation expense, which totaled approximately $1.5 million for the first six months of this year."

Digital Angel Corporation is majority-owned by Applied Digital Inc. (NASDAQ: ADSX), which also owns a majority position in VeriChip Corporation (NASDAQ: CHIP).

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