SAN JOSE, Calif.--(BUSINESS WIRE)--
Xperi Corporation (NASDAQ: XPER) (“Xperi” or the “Company”) today
announced that it has reached an agreement with Samsung Electronics,
Co., Ltd. (“Samsung”) to settle and dismiss all pending litigation
between the companies. In connection with the settlement, the companies
have entered into a new patent license agreement.
"We have a long-standing relationship with Samsung and are pleased to
put this dispute behind us," said Jon Kirchner, CEO of Xperi. "We are
hopeful that the settlement and license agreement will open the door for
our two companies to work together on a number of new technologies going
forward."
The terms and conditions of the agreement are confidential.
About Xperi Corporation
Xperi Corporation (Nasdaq: XPER) and its brands, DTS, FotoNation, HD
Radio, Invensas and Tessera, are dedicated to creating innovative
technology solutions that enable extraordinary experiences for people
around the world. Xperi's solutions are licensed by hundreds of leading
global partners and have shipped in billions of products in areas
including premium audio, broadcast, automotive, computational imaging,
computer vision, mobile computing and communications, memory, data
storage, and 3D semiconductor interconnect and packaging. For more
information, please call 408-321-6000 or visit www.xperi.com.
Xperi, DTS, Invensas, FotoNation, Tessera and their respective logos
are trademarks or registered trademarks of affiliated companies of Xperi
Corporation in the United States and other countries. All other company,
brand and product names may be trademarks or registered trademarks of
their respective companies.
Safe Harbor Statement
This press release contains forward-looking statements, which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve risks
and uncertainties that could cause actual results to differ
significantly from those projected, particularly with respect to the
Samsung legal proceedings, settlement, and license agreement, and
potential collaboration between the Company and Samsung on new
technologies. Material factors that may cause results to differ from the
statements made include the plans or operations relating to the
businesses of the Company; market or industry conditions; changes in
patent laws, regulation or enforcement, or other factors that might
affect the Company's ability to protect or realize the value of its
intellectual property; the expiration of license agreements and the
cessation of related royalty income; the failure, inability or refusal
of licensees to pay royalties; initiation, delays, setbacks or losses
relating to the Company's intellectual property or intellectual property
litigations, or invalidation or limitation of key patents; fluctuations
in operating results due to the timing of new license agreements and
royalties, or due to legal costs; the risk of a decline in demand for
semiconductors and products utilizing our audio and imaging
technologies; failure by the industry to use technologies covered by the
Company's patents; the expiration of the Company's patents; the
Company's ability to successfully complete and integrate acquisitions of
businesses; the risk of loss of, or decreases in production orders from,
customers of acquired businesses; financial and regulatory risks
associated with the international nature of the Company's businesses;
failure of the Company's products to achieve technological feasibility
or profitability; failure to successfully commercialize the Company's
products; changes in demand for the products of the Company's customers;
limited opportunities to license technologies due to high concentration
in applicable markets for such technologies; the impact of competing
technologies on the demand for the Company's technologies; failure to
realize the anticipated benefits of the Company's recent acquisition
of DTS, Inc., including as a result of integrating the business of DTS;
pricing trends, including the Company's ability to achieve economies of
scale; the expected amount and timing of cost savings and operating
synergies; and other developments in the markets in which the Company
operates, as well as management's response to any of the aforementioned
factors. You are cautioned not to place undue reliance on the
forward-looking statements, which speak only as of the date of this
release.
The foregoing review of important factors should not be construed as
exhaustive and should be read in conjunction with the other cautionary
statements that are included herein and elsewhere, including the Risk
Factors included in the Company's recent reports on Form 10-K and Form
10-Q and other documents of the Company on file with the Securities and
Exchange Commission (the "SEC"). The Company's SEC filings are available
publicly on the SEC's website at www.sec.gov.
Any forward-looking statements made or incorporated by reference herein
are qualified in their entirety by these cautionary statements, and
there can be no assurance that the actual results or developments
anticipated by the Company will be realized or, even if substantially
realized, that they will have the expected consequences to, or effects
on, the Company or its business or operations. Except to the extent
required by applicable law, the Company undertakes no obligation to
update publicly or revise any forward-looking statement, whether as a
result of new information, future developments or otherwise.
SOURCE: XPERI CORPORATION
XPER-L
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https://www.businesswire.com/news/home/20181210005213/en/
Xperi IR Contact:
Geri Weinfeld +1 818-436-1231
geri.weinfeld@xperi.com
or
Xperi PR
Contact:
Jordan Miller, +1 818-436-1082
jordan.miller@xperi.com
Source: Xperi Corporation