An out-of-court agreement has been drafted between Infineon Technologies AG and Qimonda AG in order to settle all disputes except the pending lawsuit on the economic re-establishment of a shell company and liability for impairment of capital.
The settlement will require Infineon to pay 135 million euros and Infineon will acquire all patents from Quimonda for additional 125 million euros.
The settlement will end the following lawsuits between the two companies:
- The disputes regarding the rights of use of Infineon and its licensees under the Qimonda patents.
- The claims by an insolvency administrator in the action for rescission before a Regional Court in Munich.
- Any other claims not specific to the pending economic re-establishment of a shell company and liability for impairment for capital.
Infineon said the payment will be made by existing liquidity and the provisions covered in the partial settlement have already been recognized by Infineon. The partial settlement is expected to finalize in the next calendar quarter.
Regarding the final two disputes, Infineon reasserts its claim that the lawsuits are unjustified and remains confident about the outcome.