ParkerVision Enters into Patent License and Settlement Agreement with Samsung
07.18.16 - 08:05AM
JACKSONVILLE, Fla., July 18, 2016 -- ParkerVision, Inc. (NASDAQ:PRKR), a leading developer and marketer of radio frequency technologies used in advanced wireless solutions, announced today that it has entered into a settlement and patent license agreement with Samsung Electronics Co., Ltd. and its affiliates (collectively, "Samsung") for the perpetual, worldwide license of ParkerVision's current patent portfolio, subject to certain exclusions. In conjunction with this agreement, ParkerVision will file a motion to terminate Samsung from a pending U.S. International Trade Commission investigation
and dismiss its claims against Samsung in two United States District Court cases. The companies agreed not to disclose the specific financial terms of the agreement.
ParkerVision's Chairman and CEO, Jeffrey Parker, commented, "Samsung is a world leader in technology and innovation, and we are pleased to welcome Samsung as a licensee of our technologies and to dismiss the outstanding litigation between the parties."
ParkerVision, Inc. designs, develops and markets its proprietary radio-frequency (RF) technologies, which enable advanced wireless solutions for current and next generation communications networks. Protected by a highly-regarded, worldwide patent portfolio, the Company's solutions for wireless transfer of RF waveforms
address the needs of a broad range of wirelessly connected devices for high levels of RF performance coupled with best-in-class power consumption. For more information please visit www.parkervision.com. (PRKR-G).
Safe Harbor Statement
This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the
Company's SEC reports, including the Form 10-K for the year ended December 31, 2015 and the Forms 10-Q for the quarters ended March 31, 2016. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.
Chief Financial Officer
The Piacente Group