Impinj Triumphs in Patent Dispute with NXP Semiconductors

Impinj, Inc. (NASDAQ: PI ), a prominent RAIN RFID provider and trailblazer in the Internet of Things (IoT) landscape, has announced the successful resolution of its patent litigation with NXP Semiconductors N.V. The settlement, detailed in an 8-K filing with the U.S. Securities and Exchange Commission, marks the conclusion of a prolonged legal battle, during which Impinj ( PI ) emerged victorious in multiple trials.

The agreement between Impinj ( PI ) and NXP Semiconductors brings an end to all ongoing legal proceedings and absolves both parties from past patent infringement liabilities. Moreover, it encompasses a mutual licensing arrangement, granting each entity access to the other's patents. Importantly, the settlement extends its protection to resellers and end-users, shielding them from infringement claims related to the sale or use of UHF RFID products prior to the agreement's effective date.

Central to the settlement terms is a substantial one-time payment and an annual license fee, signaling a significant win for Impinj ( PI ). Chris Diorio, co-founder, and CEO of Impinj ( PI ), expressed satisfaction with the outcome, emphasizing the company's commitment to fostering innovation while safeguarding its intellectual property.

"Impinj ( PI ) is passionately inventive," remarked Diorio. "Our extensive portfolio of over 305 issued and allowed RAIN RFID patents stands as a testament to our unwavering dedication to innovation. This settlement not only validates the value of our intellectual property but also underscores our dedication to fair competition and delivering cutting-edge solutions to our enterprise clients."

The resolution of this longstanding dispute signifies a significant milestone for Impinj, ( PI ) reinforcing its position as a leader in the RFID technology domain. With a robust portfolio of patents and a commitment to innovation, Impinj ( PI ) is poised to continue driving advancements in the IoT and RAIN RFID sectors.

Technical Outlook
Impinj ( PI ) is trading above the the 200-day Moving Average with a positive 14th-day Relative Strenght Index (RSI) of 72.84 indicating continuous bullish trend.