HOLTSVILLE, N.Y.-Rugged mobile computing company Symbol Technologies Inc. announced it reached a cross-licensing agreement with Hand Held Products Inc. as a way to resolve the companies’ ongoing patent battle.
“This is a significant milestone for each company’s customers and partners. At Symbol, we take pride in our innovation and intellectual property, and this outcome serves as validation of our intellectual property portfolio,” said William Nuti, Symbol’s president and chief executive officer. “We see tremendous opportunities in the advanced data capture market and look forward to addressing the needs of our customers by continuing to be an industry leader, especially in the area of developing and delivering new enterprise mobility technology solutions that capture, move and manage information to and from the point of business activity.”
Symbol said there will be no minimum royalty obligations, but it expects to score licensing revenues of up to $12 million for its RF intellectual property.
The news comes as several former Symbol executives have been charged with fraud.
