Fiserv Inc. of Brookfield, Wis., said Thursday that its two major payment subsidiaries, CheckFree Corp. and CashEdge Inc., have filed a patent infringement suit against FIS in Jacksonville, Fla., and its Metavante Corp. subsidiary.
The suit filed in U.S. District Court for the Middle District of Florida charges FIS with infringing on Fiserv patents with the Florida company's Payment Manager products for inter-bank account-to-account fund transfers, process payment instructions and electronic biller notifications.
“Fiserv is a leader in providing innovative and complex technology solutions and has devoted significant resources developing and maintaining an extensive intellectual property portfolio,” the company said in a statement.
“These valuable assets, and the patent protection Fiserv has been granted, enable Fiserv to create and deliver cutting-edge technologies that meet evolving market needs. We have a responsibility to protect our intellectual property from further infringement and exploitation,” the statement said.
Fiserv bought CashEdge for $465 million last summer, its largest acquisition since it bought CheckFree for $4.4 billion in 2007. FIS bought Metavante in 2009.
FIS officials were not available Thursday afternoon for comment on the lawsuit.
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