Under the terms of the settlement, TransAct Technologies will pay Seiko Epson a royalty payment for past unlicensed usage of the Seiko Epson patents. In addition, TransAct will pay Seiko Epson a royalty payment for the products having ESC/POS command set. The settlement also grants Seiko Epson licenses for TransAct Technology patents relating to printing color conversion technology that Epson may consider for future use. Terms of the agreement are confidential.
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