Cree has settled a legal dispute over patented LED technology.
On Tuesday, Cree said it will receive a license fee and ongoing royalties in settling a patent dispute with Feit Electric and Asian supplier Unity Opto Technology.
Cree also said it received a license to some Feit technology.
The dispute erupted in 2015 with Cree saying eight patents had been violated. The case went before the U.S. International Trade Commission.
Feit counter-sued in federal court.
Specific terms were not disclosed.
“Cree (Nasdaq: CREE) has invested over $1.2 billion in R&D over the past 10 years to create fundamental technology that has enabled the LED lighting revolution, and it is our obligation to protect our intellectual property,” said Chuck Swoboda, Cree chairman and CEO, in a statement. “This settlement and license agreement recognizes the value of our pioneering technology and ensures we are properly compensated while protecting consumers and Cree shareholders.”
