ParkerVision says it will receive $25 million patent settlement

Reuters reports the company, which develops wireless technology, reached an agreement with Intel.


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  • | 2:47 p.m. February 8, 2023
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Reuters news service reported ParkerVision and Intel Corp. reached an agreement in a patent infringement lawsuit filed by ParkerVision.
Reuters news service reported ParkerVision and Intel Corp. reached an agreement in a patent infringement lawsuit filed by ParkerVision.
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ParkerVision Inc., which has had no products on the market for almost three years, disclosed Feb. 7 it expects to receive $25 million from a patent license and settlement agreement.

The Jacksonville-based developer of wireless technology gave no other details in a Securities and Exchange Commission filing disclosing the agreement.

However, Reuters news service reported ParkerVision and Intel Corp. reached an agreement in a patent infringement lawsuit filed by ParkerVision.

ParkerVision said in November a jury trial in its suit against Intel would begin Feb. 6 in federal court in Texas.

Since abandoning its in-home wireless router product called Milo in 2019, ParkerVision has been focused solely on several legal actions against major telecommunications manufacturers, alleging they are infringing on the company’s patents.

ParkerVision has said its technology delivers superior performance to other wireless products.

The company has introduced several products to the market with its technology over the last three decades with little success.

In its best year, it reported $16 million in revenue in 2000 when it was selling video-camera products.

ParkerVision reported no revenue in the first nine months of 2022 after recording $144,000 in 2021 revenue, from licensing and settlement agreements with two parties.

ParkerVision was awarded a $173 million judgment by a jury in Orlando in 2013, but that verdict was overturned the next year by the federal court judge presiding over the case.

The company in November announced an agreement with China-based Hisense to resolve outstanding litigation but gave no details of that settlement.

The Feb. 7 SEC filing did not say when ParkerVision will receive the $25 million.

 

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