Impinj settles patent litigation with NXP; receives $45M upfront and annual license fees

IMPINJ INC

One-time payment of $45M due within five business days of March 13, 2024.
Annual license fees starting April 1, 2024 at $15M, increasing yearly by a fixed percentage.
Impinj makes no payments to NXP under the settlement agreement.
All pending patent litigation and proceedings terminated; cross-license granted for about ten years.
Agreement may be terminated if NXP designs out all valid claims of certain Impinj patents.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

IMPINJ INC entered into Settlement and Patent Cross-License Agreement with NXP Semiconductors N.V. and its subsidiary NXP USA, Inc. valued at $45.0 million one-time payment plus annual license fee payments starting at $15.0 million increasing (effective 2024-03-13).

Action: entry
Agreement: settlement
Counterparty: NXP Semiconductors N.V. and its subsidiary NXP USA, Inc.
Value: $45.0 million one-time payment plus annual license fee payments starting at $15.0 million increasing
Effective: 2024-03-13

Exact text from the filing

On March 13, 2024, Impinj, Inc. (“Impinj”) and NXP Semiconductors N.V. and its subsidiary NXP USA, Inc. (collectively, “NXP”) entered into a Settlement and Patent Cross-License Agreement dated March 13, 2024 (the “Agreement”), which resolves all outstanding litigation and other proceedings between them.

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Source: SEC EDGAR

accession 0000950170-24-030764

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