Verisk, EagleView settle patent suit, form long-term commercial agreement

Verisk Analytics Inc. and EagleView Technologies Inc. have settled a patent suit from 2015 and formed a new long-term commercial agreement allowing for joint innovation that will speed the claims adjudication process.

The strategic alliance gives customers access to EagleView technology within Verisk's Xactware platform, according to a Nov. 8 news release.

In 2019, the U.S. District Court for the District of New Jersey ordered Verisk to pay $125 million in damages for willfully infringing certain patents owned by EagleView and Pictometry International Group Inc. The two companies sued Verisk, alleging it infringed seven of their patents.

The agreement resolves all legal disputes between the two companies and affirms that the patents held by EagleView that were included in the suit are valid, subsisting and enforceable. EagleView also agreed that Verisk complied with the injunction of the U.S. district court's injunction.