Impinj Shares Rise 14% After Patent Settlement
By Chris Wack
Impinj shares were up 14% to $129.06 after the company said it got a successful settlement of its patent disputes with NXP Semiconductors N.V.
The Internet technology company said the agreement terminates all pending legal proceedings, releases each party from liability for past patent infringement, and licenses each party's patents to the other.
The agreement also releases resellers and end users from infringement claims for the sale or use of the parties' UHF RFID products before the date of the agreement.
The agreement, which concludes a multiyear patent dispute during which Impinj prevailed in multiple trials, includes both an up-front payment and a yearly license fee to Impinj.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 14, 2024 10:59 ET (14:59 GMT)
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