Durham – Cree and Nichia Corporation have reached an agreement regarding cross license agreements and other issues, the rival light emitting diode manufacturers said Monday.
Cree (Nasdaq: CREE) and Nichia said they have broadened agreements regarding patents that were reached in 2002 and 2005. The deal also covers disputes between Nichia and LED products sold by COTCO International Limited. The COTCO group is part of COTCO Luminant Device Limited, which Cree purchased in March.
Financial terms were not disclosed.
Cree and Nichia also said they had agreed “to resolve any future patent disputes” through a “process” that will not affect customers.
“Customers may therefore purchase either Nichia or Cree products free of any concern that Nichia or Cree will make a claim of patent infringement against the customer based on the purchased product,” Cree said in a statement.