Spansion and Samsung Settle Patent Litigation Lawsuit

Apr 7, 2009 4:05:00 PM


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View Additional Profiles$70 Million Cash Settlement


SUNNYVALE, Calif., April 7 /PRNewswire-FirstCall/ -- Spansion Inc. (Nasdaq: SPSN), the world's largest pure-play provider of Flash memory solutions, today announced that it has settled its patent litigation lawsuits with Samsung Electronics. As part of the settlement, Samsung will pay Spansion $70 million and Spansion and Samsung Electronics Company have exchanged rights in their patent portfolios in the form of licenses and covenants subject to a confidential settlement agreement. The settlement ends the patent disputes between the two companies and is a significant step forward in Spansion's reorganization process, demonstrating the company's intense focus on improving its financial position in the current economic climate.


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