South Korean chipmaker SK Hynix has signed a $240 million, five-year licensing deal with Rambus
to settle a patent infringement lawsuit, according to the UK's The Register.
Through the agreement, Hynix will pay Rambus $12 million per quarter through 2018 to use computer memory IP from Rambus.
Other aspects of the settlement weren't disclosed.
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Rambus, which has historically been successful in lawsuits defending its memory chip technology, was set to receive about $400 million in revenue from SK Hynix after its patent infringement victory. Rambus accused SK Hynix of infringing its patents on its DDR SDRAM and DDR SDRAM technologies.
But a California district court later levied Rambus with $250 million in sanctions after determining the Sunnyvale, Calif.-based company destroyed 300 boxes of documents relating to the case.
"This is a milestone agreement for both companies
that puts years of legal disputes behind us and gives us the opportunity for collaboration," Rambus CEO Dr. Ron Black said in a statement. "With this agreement, we can focus more on engaging with the industry as we work on future challenges where we can bring invention and value to the market with superior solutions and products."
Shares of Rambus traded up on the news, reaching a new 52-week high of $8.83 during the session, and closing up 6.48 percent to $8.55.
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