A ParkerVision filing with the US Securities and Exchange Commission on Wednesday said it would receive $25 million in a settlement that also includes a patent licensing agreement.
An Intel spokesperson confirmed that the companies settled but declined to provide further details. A ParkerVision spokesperson declined to comment. ParkerVision stock was down 48% Tuesday afternoon.
Jacksonville, Florida-based ParkerVision sued Intel in Waco, Texas in 2020 for infringing several 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 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.
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ParkerVision has also sued companies including 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 U.S. Court of Appeals for the Federal Circuit upheld the decision in 2015.
Santa Clara, California-based Intel has been hit with two verdicts in Waco for damages totaling over $3 billion in a separate, ongoing patent fight with VLSI Technology LLC over Intel computer chips.
