Ericsson Sues Samsung, Telecom Italia Offered Cash: Tech Business Update
LM Ericsson Telephone Company (NASDAQ:ERIC) intends to bring a lawsuit on Tuesday against Samsung (SSNLF.PK) for alleged patent infringement, claiming it has been unable to reach a resolution with the latter. Samsung is being accused of infringing Ericsson’s patents on technologies that are “essential to several telecommunications and networking standards”, alleging that the firm has refused to sign a fair, reasonable and non-discriminatory licensing agreement, subsequent to two years of negotiations.
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Shares of Immersion Corporation (NASDAQ:IMMR) are up more than 30 percent in mid-afternoon trading on the news it has reached a resolution and license agreement with Google (NASDAQ:GOOG) and Motorola Mobility, settling the patent infringement litigation brought by the former against Motorola over the latter’s various uses of a simple form of haptic effects in its mobile devices, or Basic Haptics. Through the terms, Immersion will receive compensation for prior shipments of Motorola devices that contained Basic Haptics tech.
The struggling Telecom Italia (NYSE:TI) will get a €3 billion, or $3.9 billion, cash injection from Eyptian zillionaire Naguib Sawiris if the company’s shareholders assent to the deal. The move is said to be an attempt to guide the telecom towards expansion in Brazil while at the same time making Sawiris one of the top shareholders.
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