INTEL, PARKERVISION SETTLE CHIP PATENT LAWSUIT DURING TEXAS TRIAL:
Chipmaking giant Intel Corp (INTC.O) on Tuesday settled a patent lawsuit brought by wireless technology developer ParkerVision Inc (PRKR.PK) on the second day of a West Texas jury trial in the case, court records showed.
A ParkerVision filing with the U.S. Securities and Exchange Commission on Tuesday said it would receive $25 million in a settlement that also includes a patent licensing agreement.
An Intel spokesperson confirmed that the companies settled but declined to provide further details. A ParkerVision spokesperson declined to comment. ParkerVision stock was down 48% Tuesday afternoon.
Related: ParkerVision still pursuing claims.
ParkerVision has no products on the market and is focused entirely on its patent infringement claims against Qualcomm and other companies. However, the company, founded in 1989, has offered several products over the years.
When the company went public in 1993, it was marketing an automated video camera control system that allowed consumers to take home movies without having to stand behind the camera. It also was developing that technology for videoconferencing systems.
It expanded that technology to create a complete television studio system called PVTV, which allowed one person to operate all the cameras and the control room for a broadcast.
Meanwhile, its researchers developed radio frequency receiver technology that the company said delivered superior performance for wireless devices, the technology that has become the focus of its legal fights.
ParkerVision sold off the camera control systems by 2004 to focus on the wireless technology.
The company launched and abandoned several consumer products with its wireless technology, including an in-home Wi-Fi device called Milo introduced in the fall of 2017.
The company discontinued the product in April 2019 after disappointing sales.
That left ParkerVision with just the patent infringement lawsuits.
As a personal aside, despite living almost 70 miles away from Waco, I was summoned to sit on the jury for the case in the first link. I arrived at 7:30 in the morning on Monday at the courthouse, and was out the door at 9:02 am. Finally, my background in writing for Instapundit, PJ Media, and prior to that numerous computer, consumer electronics and home automation magazines (and being married to a veteran Silicon Valley and ASIC chip design attorney) really pays off!