Philips Settles With Moser Baer and Imation
On the 13th of July 2009 Philips ended its legal disputes with regard to recordable and rewritable optical discs with Imation and Moser Baer in two separate settlements.
Under the settlement with Imation, Imation agreed to pay $ 53 million to Philips over a period of 3 years.
Simultaneously Moser Baer India Limited, an India based company who is a major supplier of CD and DVD discs to Imation, has been authorized by Philips under certain confidential conditions to use its patents for the manufacture and sale of recordable and rewritable optical discs. All other terms of the two settlements are confidential.
Philips is glad that the cases with Imation and Moser Baer are finally settled and believes that the settlements with Imation and Moser Baer create a good basis for cooperation with both companies in the future.
Simultaneously Moser Baer India Limited, an India based company who is a major supplier of CD and DVD discs to Imation, has been authorized by Philips under certain confidential conditions to use its patents for the manufacture and sale of recordable and rewritable optical discs. All other terms of the two settlements are confidential.
Philips is glad that the cases with Imation and Moser Baer are finally settled and believes that the settlements with Imation and Moser Baer create a good basis for cooperation with both companies in the future.
