IRVINE, Calif. and LOS GATOS, Calif., March 27 /PRNewswire-FirstCall/ -- Microsemi Corporation ("Microsemi") and Monolithic Power Systems, Inc. ("MPS") announced today that they have reached an amicable settlement of the patent infringement lawsuit brought by Microsemi in the United States District Court for the Central District of California. The action related to display lamp driver technologies used to illuminate electronic displays found in laptop and personal computers, automotive displays, and LCD TVs, as well as other liquid crystal display ("LCD") applications.
In the settlement, the terms of which are confidential, the companies agreed to dismiss all claims and counterclaims in the litigation with prejudice, and Microsemi agreed not to assert the four patents-in-suit against MPS or its customers in the future. Both MPS and Microsemi will continue to market their respective backlight inverter product lines. In addition, as a result of this agreement, the companies are exploring the possibility of a mutually beneficial cooperative business relationship.
Microsemi Corporation, with corporate headquarters in Irvine, California, is a leading designer, manufacturer and marketer of high performance analog and mixed-signal integrated circuits and high reliability semiconductors. Microsemi's semiconductors manage and control or regulate power, protect against transient voltage spikes and transmit, receive and amplify signals.
Microsemi's products include individual components as well as integrated circuit solutions that enhance customer designs by improving performance and reliability, battery optimization, reducing size or protecting circuits. The principal markets the company serves include implanted medical, defense/aerospace and satellite, notebook computers, monitors and LCD TVs, automotive and mobile connectivity applications.
Monolithic Power Systems, Inc. (MPS) develops and markets proprietary, advanced analog and mixed-signal semiconductors. The company combines advanced process technology with its highly experienced analog designers to produce high-performance power management integrated circuits (ICs) for Cold Cathode Fluorescent Lamp (CCFL) backlight controllers, LED drivers, DC to DC converters, Class D audio amplifiers, and Linear ICs. MPS products are used extensively in computing and network communications products, LCD monitors and TVs, and a wide variety of consumer and portable electronics products. MPS partners with world-class manufacturing organizations to deliver top-quality, ultra-compact, high-performance solutions through the most productive, cost- efficient channels. Founded in 1997 and headquartered in Los Gatos, Calif., the company has expanded its global presence with offices in Taiwan, China, Korea, Japan and Europe, which operate under MPS International Ltd.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: All statements made that are not entirely historical and factual in nature are forward-looking statements. The forward-looking statements in this release include statements concerning the possibility of mutually beneficial cooperative business endeavors between Microsemi and MPS. Forward-looking statements are inherently subject to risks, uncertainties and changes, including whether or not such endeavors may actually materialize. For a further discussion of risks and uncertainties, the reader should refer to the factors, uncertainties or risks identified in the most recent Form 10-K, 10-KA and subsequent Form 10-Q and 10-QA reports filed by Microsemi and MPS, respectively, with the SEC.
Investor Inquiries: David R. Sonksen, Microsemi Corporation, Irvine, CA (949) 221-7101. Rick Neely, Chief Financial Officer, Monolithic Power Systems, Los Gatos, CA (408) 357-6777.
