PI - Impinj Announces Successful Settlement of Patent Litigation
Company receives one-time payment and annual license fee
Impinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, today announced a successful settlement of its patent disputes with NXP Semiconductors N.V. As outlined in an 8-K filed with the U.S. Securities and Exchange Commission today, the agreement terminates all pending legal proceedings, releases each party from liability for past patent infringement, and licenses each party’s patents to the other. It also releases resellers and end users from infringement claims for the sale or use of the parties’ UHF RFID products before the date of the agreement.
The agreement, which concludes a multi-year patent dispute during which Impinj prevailed in multiple trials, includes both an up-front payment and a yearly license fee to Impinj. “Impinj is passionately inventive,” said Chris Diorio, Impinj co-founder and CEO. “Our more-than 305 issued and allowed RAIN RFID patents are the hard-earned fruits of that passion and reflect significant investment, dedication and sheer hard work. We are committed to safeguarding those patented inventions, ensuring free and fair competition and innovating solutions for our enterprise end users. I believe this settlement advances all three objectives and am pleased with the final outcome.”
About Impinj
Impinj (NASDAQ: PI) helps businesses and people analyze, optimize, and innovate by wirelessly connecting billions of everyday things — such as apparel, automobile parts, luggage, and shipments — to the Internet. The Impinj platform uses RAIN RFID to deliver timely data about these everyday things to business and consumer applications, enabling a boundless Internet of Things. www.impinj.com
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For more information, contact:
Investor Relations
Andy Cobb, CFA
Vice President, Strategic Finance
+1 206-315-4470
ir@impinj.com
Media Relations
Jill West
Vice President, Strategic Communications
+1 206-834-1110
jwest@impinj.com