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

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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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