WILMINGTON, Del., June 10, 2015 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq:IDCC), a mobile technology research and development company, today announced that InterDigital Technology Corporation and IPR Licensing, Inc., each a subsidiary of InterDigital, Inc., and Arima Communications Corporation have entered into a settlement agreement.
The agreement maintains the existing patent license agreement and resolves all pending payment disputes between the companies. In addition, the agreement will result in the dismissal of all current litigations and arbitrations between the companies in all jurisdictions. Finally, the agreement will result in the withdrawal by Arima of its complaint filed with the Taiwan Fair Trade Commission.
In second quarter 2015, InterDigital expects to recognize between $25 million and $30 million of past sales revenue related to this settlement.
InterDigital develops technologies that are at the core of mobile devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400® index.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding the amount of past sales revenue the company expects to recognize in second quarter 2015 related to the settlement. Words such as "expects," "projects," "forecasted," and variations of such words or similar expressions are intended to identify such forward-looking statements.
Forward-looking statements are subject to risks and uncertainties. Actual outcomes could differ materially from those expressed in or anticipated by such forward-looking statements due to a variety of factors, including, but not limited to the final accounting treatment related to the settlement. We undertake no duty to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority.
Contact: Patrick Van de Wille Email: email@example.com +1 (858) 210-4814