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ON Semiconductor Announces Settlement of Patent Dispute With Samsung Electronics Co. Ltd.
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PHOENIX, Ariz.—(BUSINESS WIRE)—March 11, 2009— ON Semiconductor Corporation (NASDAQ:ONNN) today announced that it has entered into a settlement agreement with Samsung Electronics Co., Ltd. that resolves the outstanding patent infringement actions that were pending in the District of Delaware, specifically, Samsung Electronics Co., Ltd. v. ON Semiconductor, civil action no. 06-720 (JJF) and ON Semiconductor v. Samsung Electronics Co., Ltd., civil action no. 07-449 (JJF) involving technology relevant to DRAM products.
Under the terms of the confidential settlement agreement, the parties have cross-licensed their respective patent portfolios for a significant term of years.
“I am very pleased that we have reached this settlement to end this patent litigation with Samsung,” commented Keith Jackson, ON Semiconductor president and CEO. “The settlement supports our long term strategic plans and reflects well on our willingness to develop flexible deal structures.”
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sman998
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