ENGLEWOOD CLIFFS, USA: LG Electronics Inc. and its wholly owned subsidiary LG Electronics USA, Inc. announced that LGE has entered into a license agreement with Iridian Technologies Inc., a wholly-owned subsidiary of L-1 Identity Solutions Inc. (L-1), to license proprietary iris recognition software from Iridian.

Concurrently with entering into the license agreement, the parties settled all historical issues and disputes among LGE and L-1, Iridian, and Securimetrics Inc., a wholly owned subsidiary of L-1 and dismisses the pending litigation in the US District Court for the District of New Jersey, in Newark (LG Electronics USA Inc. and LG Electronics Inc. v. Iridian Technologies Civil Action No. 04-391[(D. N.J.]).

Additionally, Iridian assigned to LGE whatever rights Iridian may have in the "IRISACCESS" trademark. The terms of the agreements are confidential and have not been disclosed. All parties can now move forward together to provide improved products and services to the global iris recognition market.

Charles Koo, Chairman of LGE USA and Robert V. LaPenta, Chairman, President and CEO of L-1 Identity Solutions issued a joint statement saying: "We are happy to have arrived at a mutually acceptable resolution to this longstanding dispute and believe that it will be an important step forward for the iris recognition industry. Iris-based recognition affords the highest levels of performance and accuracy for authenticating identities. We anticipate that iris will become one of the fastest growing biometric market segments in the future."