Actions and SigmaTel Settle All Patent Litigation and Enter into Cross-License Agreement
21 Giugno 2007 - 3:00AM
PR Newswire (US)
Actions' Entire Product Portfolio Now Available for Shipment to
U.S. Without Restrictions ZHUHAI, China, June 20
/Xinhua-PRNewswire/ -- Actions Semiconductor Co., Ltd.
(NASDAQ:ACTS), one of China's leading fabless semiconductor
companies, today announced that it has settled all outstanding
litigation worldwide with SigmaTel, Inc. (NASDAQ:SGTL). Under terms
of the settlement agreement, all outstanding claims and
counterclaims in the lawsuits in which the two companies have been
engaged will be dismissed with prejudice. Both companies also
agreed to not pursue possible third party IP infringements or new
legal actions against each other and their respective customers for
three years. Additionally, Actions and SigmaTel entered into a
comprehensive cross-license agreement covering patents owned or
controlled by either party or its subsidiaries. Consequently, all
of Actions' current and future products may now be imported into
the U.S. market without restrictions. "We are pleased to have
reached a mutually beneficial agreement that advances the long-term
interests of both companies," commented Mr. Nan-Horng Yeh, Chief
Executive Officer of Actions Semiconductor. "The agreement lays the
groundwork for fair competition and validates the strength of our
intellectual property portfolio." About Actions Semiconductor
Actions Semiconductor is one of China's leading fabless
semiconductor companies that provides mixed-signal and multimedia
SoC solutions for portable consumer electronics. Actions
Semiconductor products include SoCs, firmware, software, solution
development kits, as well as detailed specifications of other
required components and the providers of those components. Actions
Semiconductor also provides total product and technology solutions
that allow customers to quickly introduce new portable consumer
electronics to the mass market in a cost effective way. The company
is headquartered in Zhuhai, China, with offices in Beijing and
Shenzhen. For more information, please visit the Actions
Semiconductor website at http://www.actions-semi.com/. "Safe
Harbor" Statement Under the Private Securities Litigation Reform
Act of 1995 Statements contained in this release that are not
historical facts are forward-looking statements, as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements, including financial projections and
forecasts, involve risks and uncertainties that could cause Actions
Semiconductor's actual results to differ materially from our
current expectations. Factors that could cause Actions
Semiconductor's results to differ materially from those set forth
in these forward-looking statements include customers' cancellation
or modification of their orders; our failure to accurately forecast
demand for our products; the loss of, or a significant reduction in
orders from, any of our significant customers; fluctuations in our
operating results; our inability to develop and sell new products;
defects in or failures of our products; the expense and uncertainty
involved in our customer design-win efforts; the financial
viability of the distributors of our products; consumer demand;
worldwide economic and political conditions; fluctuations in our
costs to manufacture our products; our reliance on third parties to
manufacture, test, assemble and ship our products; our ability to
retain and attract key personnel; our ability to compete with our
competitors; and our ability to protect our intellectual property
rights and not infringe the intellectual property rights of others.
Other factors that may cause our actual results to differ from
those set forth in the forward-looking statements contained in this
press release and that may affect our prospects in general are
described in our filings with the Securities and Exchange
Commission, including our Registration Statement on Form F-1
related to our initial public offering and secondary offering.
Actions Semiconductor undertakes no obligation to update or revise
forward-looking statements to reflect subsequent events or changed
assumptions or circumstances. For More Information Investor
Contacts: Lisa Laukkanen The Blueshirt Group for Actions
Semiconductor +1-415-217-4967 Chung Hsu Investor Relations at
Actions +86-756 3392 353 *1015 DATASOURCE: Actions Semiconductor
Co., Ltd. CONTACT: Lisa Laukkanen of The Blueshirt Group,
+1-415-217-4967, , for Actions Semiconductor Co., Ltd.; or Chung
Hsu of Actions Semiconductor Co., Ltd. Investor Relations, +86-756
3392 353 *1015, Web site: http://www.actions-semi.com/
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