(RTTNews) - Power Integrations (POWI) Thursday said it has reached a settlement with ON Semiconductor and its subsidiary, Fairchild Semiconductor, regarding patent disputes.
The companies have entered into a definitive agreement that ends all litigation between them, including lawsuits in Delaware, California, Taiwan and China. Power Integrations has received a cash payment of $175 million from ON. Neither company granted any licenses to the other.
The settlement concludes a fifteen-year legal battle between both Power Intergrations and Fairchild Semiconductor, which was acquired by ON in 2016.
Commented Power Integrations CEO Balu Balakrishnan: "PI is the leading innovator in IC technology for high-voltage power-conversion. Over three decades, we have brought scores of groundbreaking inventions and differentiated products to the market. Our inventions are the result of enormous investments of human and financial resources, and we are committed to safeguarding our hard-earned intellectual property. We are gratified that we have prevailed in this effort, and we will continue to insist that competitors respect our intellectual property."
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