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ParkerVision Secures Patent License and Settlement Agreement with Buffalo, Inc.

·2 min read

JACKSONVILLE, FL / ACCESSWIRE / May 19, 2021 / ParkerVision, Inc. (OTCQB:PRKR), a leading developer of radio frequency technologies used in advanced wireless solutions, announced today that it has successfully resolved its patent infringement litigation against Buffalo, Inc. on mutually-agreeable and confidential terms including a patent license. Buffalo, Inc., of Nagoya, Japan ("Buffalo") manufactures and sells computer related products.

In conjunction with this agreement, ParkerVision will file a motion to terminate its patent infringement proceedings against Buffalo in the Western District of Texas. Proceeds received will be used for ParkerVision legal expenses.

ParkerVision's patent infringement action against Buffalo was initiated in the Western District of Texas in October 2020 and related to Buffalo's use of WiFi chips in its products. ParkerVision has additional patent infringement actions currently ongoing in the Western District of Texas including cases against Intel, Hisense, TCL and ZyXel.

"We are satisfied with the resolution of all outstanding litigation with Buffalo and with the commercial terms of the agreement," said Jeffrey Parker, ParkerVision's Chairman and CEO.

Mr. Parker further emphasized, "We believe that ParkerVision's wireless innovations, resulting from R&D investments of well over $100 million, are now at the heart of billions of popular wireless chips in a wide range of applications from cellular Smartphone 3G/4G/5G transceivers, to the latest WiFi and IoT devices. While ParkerVision has had to bring litigations to enforce its patent rights, we would prefer to continue to focus on the business of innovation and helping grow the US economy through technology and product development."

About ParkerVision

ParkerVision, Inc. has designed, developed, and patented proprietary radio-frequency (RF) technologies which enable advanced wireless solutions for current and next generation wireless communication products. ParkerVision is engaged in a number of patent enforcement actions to protect patented rights that it believes are broadly infringed by others. For more information, please visit www.parkervision.com

Safe Harbor Statement

This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10-K for the year ended December 31, 2020and the Form 10-Q for the quarter ending March 31, 2021. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.

Contact:

Cindy French
Chief Financial Officer
cfrench@parkervision.com

Tony Vignieri
Communications Director
tvignieri@parkervision.com

SOURCE: ParkerVision, Inc.



View source version on accesswire.com:
https://www.accesswire.com/648123/ParkerVision-Secures-Patent-License-and-Settlement-Agreement-with-Buffalo-Inc