ITT Exelis (NYSE: XLS) has reached settlement agreements with four companies regarding patent infringement claims related to Exelis assisted Global Positioning System (GPS) technology. The settlement agreements resolve all issues regarding the company’s claim that the mobile devices, components and networks sold or supported by Verizon, Qualcomm, LG and Kyocera, incorporating assisted GPS technology, infringed on Exelis patent rights. Specific details of each of the settlement agreements will remain confidential.
"Exelis is a global leader and innovator in GPS, communications, and numerous other technologies,” said Thomas M. Blasey, Deputy General Counsel and Chief Intellectual Property Counsel for Exelis. “These latest settlements, as well as our prior settlements with other major providers of wireless communication devices and network service, demonstrate that Exelis is fully committed to protecting its intellectual property portfolio.”
About ITT Exelis
Exelis is a diversified, top-tier global aerospace, defense, information and technical services company that leverages a 50-year legacy of deep customer knowledge and technical expertise to deliver affordable, mission-critical solutions for global customers. We are a leader in communications, sensing and surveillance, critical networks, electronic warfare, navigation, air traffic solutions and information systems with growing positions in C4ISR, composite aerostructures, logistics and technical services. Headquartered in McLean, Va., the company employs about 19,900 people and generated 2012 sales of $5.5 billion. For more information, visit our website at www.exelisinc.com or connect with us on Facebook, Twitter and YouTube.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV