Spansion Inc reached a settlement of its long-running patent litigation and disputes with Samsung Electronics Co. (005930.SE, SSNHY), below which it will obtain $150 million greater than 5 years.
Under the settlement, the firms agreed to some seven-year cross-licensing of each and every other's products. Spansion also agreed to purchase Samsung's bankruptcy promises for $30 million, which if authorized in the bankruptcy court, will permit Spansion to retire 1.65 million to 1.85 million shares.
Spansion released the litigation in opposition to Samsung in 2008, looking for to prevent imports of products and options which consist of Apple Inc.'s (AAPL) iPods and review In movement Ltd.'s (RIMM, RIM.TO) BlackBerrys that contained Samsung chips. The institution in the time named Samsung and numerous firms whose products employed the chips although in the suits.
In August, Spansion mentioned it filed an extra three separate patent-infringement complaints in opposition to Samsung relating to its flash-memory products.
Spansion--a spinoff of state-of-the-art Micro products Inc. (AMD) -- holds flash-memory-related patents that day by applying the 1990s. The institution filed for bankruptcy safety in earlier 2009, since it experienced been weighed reducing by $1.5 billion in debt. It emerged from bankruptcy in may properly 2010.
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