Cirrus Logic and NVIDIA Enter Into Cross License and Settle Litigation.Business Editors/High-Tech Writers AUSTIN, Texas--(BUSINESS WIRE)--Aug. 13, 2003 NVIDIA Corporation (Nasdaq:NVDA NVDA NVIDIA Corp (stock symbol) NVDA Non-Violent Direct Action (direct resistance lobbying) NVDA NonVisual Desktop Access (open-source screen reader) ) and Cirrus Logic Inc. (Nasdaq:CRUS) today announced they have entered into a cross-license agreement and have settled all outstanding litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. between the companies. In May 2003, Cirrus Logic brought suit against NVIDIA and ATI Technologies Inc. in the United States District Court for the Western District of Texas The United States District Court For the Western District Of Texas (W.D.Tex) is the Federal district court whose jurisdiction consists of the counties in the western part of the state of Texas. This district covers over 92,000 square miles and seven divisions. , Austin Division, for infringement of a Cirrus patent relating to graphics processor technology. In July 2003, NVIDIA counterclaimed against Cirrus, alleging infringement of patents owned by NVIDIA relating to audio-controller technology. Under the settlement agreement, all outstanding claims and counterclaims in the lawsuit between Cirrus and NVIDIA will be dismissed. In connection with the settlement, Cirrus Logic will transfer to NVIDIA a portion of its patent portfolio relating to the former graphics products group of its PC products division, a business that Cirrus exited several years ago. Financial terms of the arrangement were not disclosed. As a result of the settlement, Cirrus said that its total cash at the end of the second quarter of fiscal year 2004 is expected to be approximately $113 million to $118 million, compared to $115.5 million at the end of the company's first quarter. Cirrus' patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. claims against ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. remain pending. About Cirrus Logic Cirrus Logic is a premier supplier of high-performance analog, mixed-signal and digital processing solutions for consumer entertainment electronics, automotive entertainment and industrial product applications. Building on its global market leadership in audio ICs and its rich mixed-signal patent portfolio, Cirrus Logic targets audio, video and precision mixed-signal applications in these growing markets. The company operates from headquarters in Austin, Texas, with offices in California, Colorado, Europe, Japan and Asia. More information about Cirrus Logic is available at www.cirrus.com. About NVIDIA NVIDIA Corporation is a market leader in visual computing technology dedicated to creating products that enhance the interactive experience on consumer and professional computing platforms. Its graphics and communications processors have broad market reach and are incorporated into a wide variety of computing platforms, including consumer digital-media PCs, enterprise PCs, professional workstations, digital content creation The development of newsworthy, educational and entertainment material for distribution over the Internet or other electronic media. See DAMS. systems, notebook PCs, military navigation systems, and video game consoles This is a list of video game consoles by the era they appeared in. Eras are named based on the dominant console type of the era (even though not all consoles of those eras are of the same type). Some eras are referred to based on how many bits a major console could process. . NVIDIA is headquartered in Santa Clara, California Santa Clara, California (IPA: /ˌsæntəˈklærə/) , founded in 1777 and incorporated in 1852, is a city in Santa Clara County, in the U.S. state of California. and employs more than 1,600 people worldwide. For more information, visit the Company's Web site at www.nvidia.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Provision Except for historical information contained herein, the matters set forth in this news release, including Cirrus Logic's expectations regarding its cash level at the end of its second fiscal quarter, are forward-looking statements that are dependent on certain risks and uncertainties, including, among others, as the level of orders and shipments during the second fiscal quarter, the company's ability to collect amounts owed to it, and the risk factors described in the company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended March 29, 2003, and in other filings with the Securities and Exchange Commission. The foregoing information represents Cirrus Logic's outlook as of the date of this release, and Cirrus Logic undertakes no obligation to update or revise any forward-looking statement, whether as a result of new developments or otherwise. Cirrus Logic and Cirrus are trademarks of Cirrus Logic Inc. NVIDIA is a trademark of NVIDIA Corporation. All other product names noted herein may be trademarks of their respective holders. |
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