STMicroelectronics, InvenSense Settle Pending Patent Litigation

(RTTNews) - STMicroelectronics NV (STM) and InvenSense, Inc. (INVN) said Monday that they have settled all pending proceedings between them and have entered into a patent cross license agreement.

The two companies had instituted various proceedings beginning in May 2012 in the United States District Court for the Northern District of California, the United States District Court for the Eastern District of Texas, the United States Patent and Trademark Office and with the United States International Trade Commission. This settlement and patent cross license resolves all such actions.

Under terms of the settlement, neither ST nor InvenSense has made any admission of liability with respect to such proceedings. Other terms between the parties are confidential.