SOURCE: Lattice Semiconductor Corporation
BELLEVUE, WA and HILLSBORO, OR--(Marketwire - Mar 6, 2013) - Intellectual Ventures (IV®) and Lattice Semiconductor Corporation (NASDAQ: LSCC) announced today that Lattice will become a licensee to segments of IV's patent portfolio of nearly 40,000 IP assets. As a result of the licensing arrangement, IV and Lattice have reached a settlement agreement and resolved all pending patent infringement litigation.
Lattice was one of four companies ultimately named as a defendant in IV's patent infringement action originally filed in December 2010 in the U.S. District Court for the District of Delaware. This suit involved manufacturers of field-programmable gate arrays, and due to the settlement agreement, IV will file a motion to dismiss all pending litigation against Lattice.
"Lattice is the second company to reach a settlement agreement with IV in this case, and we continue to pursue productive discussions with the other defendants," said Melissa Finocchio, vice president and chief litigation counsel for Intellectual Ventures. "IV has dedicated considerable resources to building a portfolio of semiconductor assets and these settlements reinforce the quality of our patent portfolio."
Intellectual Ventures engages with companies of all sizes to meet their current business needs and provide strategic guidance on forward-thinking intellectual property. IV combines scale and expertise to structure sophisticated deals designed to help companies strengthen their market position by reducing their current risk and providing access to the invention rights they need to stay competitive.
About Lattice Semiconductor
Lattice is a service-driven developer of innovative low cost, low power programmable design solutions. For more information about how our FPGA, CPLD and programmable power management devices help our customers unlock their innovation, visit www.latticesemi.com. You can also follow us via Twitter, Facebook, or RSS.
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies, and invests both expertise and capital in the process of invention. IV's mission is to energize and streamline an invention economy that will drive innovation around the world. For more information, please visit www.intellectualventures.com, follow IV on Twitter at @IVinvents and "like" IV on Facebook at facebook.com/intven.
Forward-Looking Statements Notice
The foregoing paragraphs contain forward-looking statements about Lattice's becoming a licensee to segments of IV's patent portfolio and IV filing a motion to dismiss all pending litigation against Lattice. The statements are based on management's current expectations, estimates and projections, are not guarantees of future performance, and are subject to certain risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict, including, but not limited to, changes in the market price of the company's common stock and changes in the company's financial results, financial condition and cash requirements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Lattice undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Intellectual Ventures and IV are registered trademarks of Intellectual Ventures Management, LLC, its subsidiaries or related companies (IV).
Lattice Semiconductor Corporation, Lattice (& design) and L (& design) are either registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries.
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