Network-1 Tech Agrees To Settle Its Patent Litigation Against Dell

(RTTNews) - Network-1 Technologies, Inc. (NTIP) announced that it agreed to settle its patent litigation against Dell, Inc. pending in the United States District Court for the Eastern District of Texas, Tyler Division, for infringement of Network-1's Remote Power Patent. Dell was one of sixteen original defendants named in the litigation.

Under the terms of the settlement, Dell will license the Remote Power Patent for its full term which expires in March 2020, and pay a license initiation fee of $6,000,000 for past sales of its Power over Ethernet ("PoE") products and ongoing royalties based on its sales its PoE products, including those PoE products which comply with the Institute of Electrical and Electronic Engineers ("IEEE") 802.3af and 802.3at Standards.

In September 2011, the Company initiated patent litigation against sixteen data networking equipment manufacturers in the United States District Court for the Eastern District of Texas, Tyler Division, for infringement of its Remote Power Patent. Network-1 previously reached settlement and license agreements with ten of the original defendants. The remaining five defendants in the lawsuit are Avaya Inc., AXIS Communications Inc., Hewlett-Packard Company, Juniper Networks, Inc., and Polycom Inc. Network-1 seeks monetary damages based upon reasonable royalties.