UPDATE 1-Safeway, Excentus settle over gas rewards program

* Safeway, Excentus settle litigation

* Terms of agreements, settlement not disclosed

CHICAGO, Jan 27 (BestGrowthStock) – Safeway Inc (SWY.N: ) and
Excentus Corp said on Wednesday that they have settled all
outstanding litigation between them and entered into a
settlement and licensing agreement.

Excentus sued Safeway in June, alleging the grocery chain
wrongly used the privately held company’s patents and other
intellectual property to develop Safeway’s PowerPump gasoline
rewards program. [ID:nN18508284]

“We are glad to have been able to work with Safeway to
execute an agreement that works for both of us and opens up the
opportunity to work together on what is best for their
customers going forward,” Excentus Chief Executive Dickson
Perry said in a statement.

Safeway said it looks forward to “exploring ways to work
together on fuel rewards.”

Further terms of the agreement and settlement were not
disclosed.

When it filed the suit, Excentus said that Safeway
wrongfully used trade secrets and confidential information
belonging to Excentus to develop PowerPump Rewards.

Safeway’s PowerPump Rewards program gave customers
discounts on gasoline at certain gas stations after they
reached a specific level of spending on groceries or gift
cards. Excentus’ fuel rewards, called fuelperks, offers fuel
discounts based on spending.

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(Reporting by Jessica Wohl, editing by Dave Zimmerman)

UPDATE 1-Safeway, Excentus settle over gas rewards program