Proxim Pays $23M To Settle Symbol's WLAN Patent Suit

Law360, New York (September 14, 2004, 12:00 AM EDT) -- Wireless gear maker Proxim has agreed to pay rival Symbol Technologies $23 million to settle a protracted patent lawsuit.

The settlement comes in the wake of the U.S. District Court for the District of Delaware’s decision in July to order Proxim to pay Symbol approximately $23 million in damages, plus $3 million in interest, for infringing on Symbol's patents.

Under the settlement and cross-licensing agreement terms, Proxim announced that it plans to pay Symbol $22.75 million over the next two and a half years, or 10...
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