Sunday, July 25, 2021

Gateway, HP Settle Patent Claims

Gateway agreed to pay HP $47 million to settle patent-infringement lawsuits, and the two companies will cross-license each other’s patent portfolios for seven years.

Gateway, which has struggled in a lagging PC market, will pay HP $25 million within seven business days following the signing of a settlement and cross-license agreement. The remaining $22 million will be paid a year after that date.

The Irvine, Calif., computer maker said it will take a charge of $16.7 million to settle the claims. The remaining $30.3 million will go toward the seven-year license.

Accounting for the settlement, Gateway trimmed its net income for 2005 from $49.5 million to $32.8 million.

Gateway said in a statement these costs “are substantially less than the near-term litigation costs that will now be avoided.” For example, Gateway expects to save $12 million in litigation costs for 2006.

This article was first published on InternetNews.com. To read the full article, click here.

Similar articles

Latest Articles

Data Science Market Trends...

When famed mathematician John W. Tukey postulated that advanced computing would have a profound effect on data analysis, he probably didn’t imagine the full...

Data Recovery Market Trends...

Data recovery is more important than ever in this era of constant cyber attacks and ransomware. The Verizon Data Breach Investigations Report (DBIR) looked...

Trends in Data Visualization

In a world of big data, visualization is becoming a key skill set that every business must master.  Digital technology has transformed the way businesses...

Microsoft Data Portfolio Review

With a host of analytics services for almost any situation, Microsoft Azure’s data services have got just about every base covered.   In the world...