Grommit: That case was settled last week:
General Scanning and Robotic Vision Systems Settle View Acquisition Litigation
PR Newswire, Monday, June 15, 1998 at 08:44
NEW YORK, June 15 /PRNewswire/ -- General Scanning Inc. (NASDAQ:GSCN) and Robotic Vision Systems, Inc. (NASDAQ:ROBV) ("RVSI") today jointly announced execution of a settlement of RVSI's claims arising out of General Scanning's acquisition of View Engineering, Inc. ("View") in August 1996. RVSI claimed that General Scanning used improperly obtained information in connection with the acquisition. General Scanning denied all such claims.
Under the agreed upon settlement, General Scanning has agreed not to compete for ten years in the inspection of interconnect leads of semiconductor packages as described below. Under the settlement, General Scanning licenses to RVSI its 2D and 3D vision technology solely and exclusively for RVSI's use in the inspection of leads, pins, balls, bumps and other present and future device interconnection leads. In consideration for the technology license and non-competition agreement, RVSI agreed to pay General Scanning $3.75 million.
RVSI's remaining patent suit against General Scanning is unaffected by the current settlement. |
