JACKSONVILLE, FL / ACCESSWIRE / September 7, 2021 / ParkerVision, Inc. (OTCQB:PRKR), a leading developer of radio frequency technologies used in advanced wireless solutions, announced today that it has successfully resolved its patent infringement litigation against Taiwanese Zyxel Communications Corporation ("Zyxel") on mutually-agreeable and confidential terms including a patent license. Zyxel, with headquarters in Hsinchu, Taiwan manufactures and sells networking devices, including routers and modems.
In conjunction with this agreement, ParkerVision will file a motion to terminate its patent infringement proceedings against Zyxel in the Western District of Texas. Proceeds received will be used for ParkerVision legal expenses.
ParkerVision's patent infringement action against Zyxel was initiated in the Western District of Texas in October 2020 and related to Zyxel's use of WiFi chips in its products. ParkerVision has additional patent infringement actions currently ongoing in the Western District of Texas including cases against Intel, Hisense, TCL and LG.
"We are pleased to execute our second patent license and settlement agreement this year. We continue to believe our wireless technologies are broadly in use in a wide range of applications, and we hope to secure additional licenses for our technologies in the near term," said Jeffrey Parker, ParkerVision's Chairman and CEO.
About ParkerVision
ParkerVision, Inc. has designed, developed, and patented proprietary radio-frequency (RF) technologies which enable advanced wireless solutions for current and next generation wireless communication products. ParkerVision is engaged in a number of patent enforcement actions to protect patented rights that it believes are broadly infringed by others. For more information, please visit www.parkervision.com
Safe Harbor Statement
This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10-K for the year ended December 31, 2020 and the Form 10-Q for the quarters ended March 31 and June 30, 2021. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.
Contact:
Cindy French
Chief Financial Officer
[email protected]
Tony Vignieri
Communications Director
[email protected]
SOURCE: ParkerVision, Inc.