8/15/2003 - NVIDIA Corporation (Nasdaq: NVDA) and Cirrus Logic Inc. (Nasdaq: CRUS) 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 NVIDIA and ATI Technologies Inc. in the United States District Court for the Western District of Texas, Austin Division, for infringement of a Cirrus patent relating to graphics processor technology. In July 2003, NVIDIA counterclaimed against Cirrus, alleging infringement of patents owned by NVIDIA relating to audio-controller technology.
Under the settlement agreement, all outstanding claims and counterclaims in the lawsuit between Cirrus and NVIDIA will be dismissed. In connection with the settlement, Cirrus Logic will transfer to NVIDIA a portion of its patent portfolio relating to the former graphics products group of its PC products division, a business that Cirrus exited several years ago. Financial terms of the arrangement were not disclosed.
As a result of the settlement, Cirrus said that its total cash at the end of the second quarter of fiscal year 2004 is expected to be approximately $113 million to $118 million, compared to $115.5 million at the end of the company’s first quarter.
Cirrus' patent infringement claims against ATI remain pending.
About Cirrus Logic
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.
NVIDIA Corporation is a market leader in visual computing technology dedicated to creating products that enhance the interactive experience on consumer and professional computing platforms. Its graphics and communications processors have broad market reach and are incorporated into a wide variety of computing platforms, including consumer digital-media PCs, enterprise PCs, professional workstations, digital content creation systems, notebook PCs, military navigation systems, and video game consoles. NVIDIA is headquartered in Santa Clara, California and employs more than 1,600 people worldwide. For more information, visit the Company's Web site at www.nvidia.com.
Cirrus Logic and Cirrus are trademarks of Cirrus Logic Inc. NVIDIA is a trademark of NVIDIA Corporation.
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