Powertech To Pay $196M To End Tessera Chip Licensing Suits
Law360, Los Angeles (February 27, 2014, 10:31 PM EST) -- Powertech Technology Inc. has agreed to settle its breach of contract and semiconductor chip patent infringement suits against Tessera Inc. for $196 million, the companies announced Thursday, a month after a California federal judge ruled Powertech improperly terminated its licensing agreement with Tessera.
The companies said the settlement would pay out over the next five years and would end Powertech's two suits and Tessera's counterclaims, including breach of contract and fraud. The cases stem from a deal allowing Powertech to use Tessera's patents to make integrated circuit packages and sell them worldwide in exchange for royalties.
"The settlement reflects our commitment...
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