Chipmaking giant Intel Corp (INTC.O) on Tuesday settled a patent lawsuit brought by wireless technology developer ParkerVision Inc (PRKR.PK) on the second day of a West Texas jury trial in the case, court records showed.

A ParkerVision filing with the U.S. Securities and Exchange Commission on Tuesday 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.

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.

The ParkerVision case is ParkerVision Inc v. Intel Corp, U.S. District Court for the Western District of Texas, No. 6:20-cv-00108.

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

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

By: DocMemory
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