CSR settles Bluetooth patent dispute for $15m
CSR plc (CSR.L) said today it has reached agreement with Washington Research Foundation (WRF) to settle the patent infringement suit regarding the use of Bluetooth chips issued against twelve of CSR's customers.
CSR said in a statement to the London Stock Exchange that it remained of the view that WRF's patent infringement suit against its Bluetooth chips was without merit.
"Notwithstanding this, CSR believes that an early resolution of this infringement claim is in both its own and its customers' best interests. CSR will pay WRF $15 million," the Cambridge-based company said.
CSR has obtained from WRF an undertaking not to sue CSR, its suppliers, customers or end users for alleged infringement by CSR products of the patents asserted in the suit.
In early January CSR said it would "defend its [Bluetooth] products vigorously" after it had received reports the complaint had been lodged in a US Federal court naming four of its customers - Matsushita, Panasonic, Nokia and Samsung - as defendants in a patent infringement suit
The company's share price shed 3.50p to 696.00p this morning, taking the market capitalisation to around £908m.
CSR is the leading global provider of personal connectivity, wireless technology with a product portfolio covering Bluetooth, FM receivers and WiFi (IEEE802.11). CSR offers developed hardware/software solutions based around its silicon platforms that incorporate fully integrated radio, baseband and microcontroller elements.
19th April 2007
