10/2/2003 - Cirrus Logic Inc. (Nasdaq: CRUS) and ATI Technologies Inc. (Nasdaq: ATYT) (TSX: ATY) announced they have entered into a cross-license agreement and have settled all outstanding litigation between the companies.
In May 2003, Cirrus Logic brought suit against ATI in the United States District Court for the Western District of Texas, Austin Division, for infringement of a Cirrus Logic patent relating to graphics processor technology. In addition, a separate patent infringement suit relating to a different Cirrus Logic patent has been pending in the United States District Court for the Northern District of California, San Francisco Division, since July 1998.
Under the settlement agreement, all outstanding claims and counterclaims in both lawsuits between Cirrus Logic and ATI were dismissed. In connection with the settlement, Cirrus Logic will transfer to ATI a portion of its patent portfolio relating to the former graphics products group of its PC products division, a business that Cirrus Logic exited several years ago, and ATI will pay Cirrus $9 million in October 2003.
Cirrus Logic Inc.
Cirrus Logic is a premier supplier of high-performance analog, mixed-signal and digital processing solutions for consumer entertainment electronics, automotive entertainment and industrial product applications. Building on its global market leadership in audio ICs and its rich mixed-signal patent portfolio, Cirrus Logic targets audio, video and precision mixed-signal applications in these growing markets. The company operates from headquarters in Austin, Texas, with offices in California, Colorado, Europe, Japan and Asia.
Cirrus Logic and Cirrus are trademarks of Cirrus Logic Inc.
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