Intel to get $25 million in patent settlement from ParkerVision

Chipmaking giant Intel Corp settled a patent lawsuit brought by wireless technology developer ParkerVision Inc on the second day of a jury trial in West Texas, according to court records.

A ParkerVision filing with the U.S. Securities and Exchange Commission said it would receive $25 million in a settlement that includes a patent licensing agreement.

Representatives for Intel did not respond immediately to a request for comment. A ParkerVision spokeswoman wouldn't say anything. ParkerVision's stock was down 37 per cent on Tuesday.

In 2020, ParkerVision, a Florida-based company, sued Intel in Waco, Texas for infringing patents related to improved radio-frequency receivers. ParkerVision had said it pioneered the communications technology used in Intel's wireless chips in the mid- 1990s.

ParkerVision said Intel chips used in smartphones, including Apple's iPhone, infringe the patents. Intel denied the allegations, arguing that the patents are invalid and its technology works in different ways.

A ParkerVision expert told the court that Intel should pay more than $294 million in royalties for the alleged infringement, according to a court filing.

ParkerVision has also sued companies such as Apple, Qualcomm, and TCL for patent infringement over wireless chips and devices that use them.

A Florida federal judge overturned a $173 million jury verdict for ParkerVision against Qualcomm in 2014. The decision was upheld in 2015 by the U.S. Court of Appeals for the Federal Circuit.

Santa Clara, California-based Intel was hit with two verdicts in Waco for damages totaling $3 billion in a patent fight with VLSI Technology LLC over Intel's chips.

ParkerVision is a case of ParkerVision Inc v. Intel Corp, U.S. District Court for the Western District of Texas, No. For Intel : Michael Summersgill, Sarah Petty, Todd Zubler, Mindy Sooter and Robert Gunther of Wilmer Cutler Pickering Hale Dorr

For ParkerVision : Ronald Daignault, Scott Samay, Jason Charkow, Chandran Iyer and Oded Burger of Daignault Iyer