AMSTERDAM, April 5, 2016 /PRNewswire/ --
Fontem Ventures, owner of market leading e-cigarette brand blu, and VMR Products, LLC, a U.S. based distributor and retailer of vaporizers and e-liquids, today announced they have reached a settlement agreement that resolves ongoing litigation in the USA.
The settlement ends the last of eight patent infringement cases originally brought by Fontem Ventures and Fontem Holdings 1 in March 2014 in the United States District Court for the Central District of California in relation to e-vapour technology.
Under the terms of the settlement, Fontem Ventures has granted VMR Products, LLC a non-exclusive royalty-bearing licence under the patents asserted in the litigation and certain other e-vapour technology related patents. The remaining settlement terms are confidential.
About Fontem Ventures*
Fontem Ventures is the owner of blu, a leading e-cigarette brand in the United States and the United Kingdom. Headquartered in the Netherlands, and present on two continents, Fontem Ventures is an innovative consumer goods company, founded in 2012, committed to developing a portfolio of products that meet consumer needs, including the highest quality electronic vaping products.
Founded in 2009, VMR Products is a global force in the vapor products industry. The company's flagship brands; V2®, V2 Pro®, Vapour2™, and Vapor Couture™, are sold in many countries. VMR designs, produces, distributes and supports an expanding catalog of quality products, and is an OEM manufacturer for a long list of private-label brands, including Zig-Zag®, OCB®, ECG®, and QuickDraw®. VMR is the only electronic cigarette company to employ a vertically integrated business model, managing its entire product life cycle to ensure the highest commitment to quality control and customer service.
V2.com®, is the world's highest volume online retailer of electronic cigarettes and personal vaporizers, and has maintained this position since 2011. The company has distinguished itself as an industry leader with its ever-expanding product lines, powerful vapor production and great taste.
*The information provided in "About Fontem Ventures" and "About VMR" is made solely by each respective party without review or confirmation as to accuracy by the other party.
SOURCE Fontem Ventures B.V.