Avid and Harmonic Sign Global Patent Licensing Agreement, Settle Litigation
October 30 2017 - 4:10PM
Avid® (Nasdaq:AVID) today announced a global patent cross-licensing
agreement with Harmonic Inc. (Nasdaq:HLIT), ending its patent
infringement litigation against Harmonic on a mutually acceptable
basis without trial. Under the terms of the settlement,
Harmonic will pay $6.0 million to Avid. The first payment of
$2.5 million was made on October 24, 2017; the remaining $3.5
million will be paid in two installments of $1.5 million and $2.0
million in 2019 and 2020, respectively.
About AvidThrough Avid Everywhere™, Avid
delivers the most open and efficient media platform, connecting
content creation with collaboration, asset protection,
distribution, and consumption. Avid’s preeminent customer community
uses Avid’s comprehensive tools and workflow solutions to create,
distribute and monetize the most watched, loved and listened to
media in the world—from prestigious and award-winning feature films
to popular television shows, news programs and televised sporting
events, and celebrated music recordings and live concerts.
With the most flexible deployment and pricing options, Avid’s
industry-leading solutions include Media Composer®, Pro Tools®,
Avid NEXIS®, MediaCentral®, iNEWS®, AirSpeed®, Sibelius®, Avid
VENUE™, Avid FastServe™, Maestro™, and PlayMaker™. For
more information about Avid solutions and services, visit
www.avid.com, connect with Avid on Facebook, Instagram, Twitter,
YouTube, LinkedIn, or subscribe to Avid Blogs.
© 2017 Avid Technology, Inc. All rights reserved. Avid, the Avid
logo, Avid Everywhere, Avid Artist | DNxIV, Avid NEXIS, Avid
FastServe, AirSpeed, iNews, Maestro, MediaCentral, Media Composer,
PlayMaker, Pro Tools, Avid VENUE, and Sibelius are trademarks or
registered trademarks of Avid Technology, Inc. or its subsidiaries
in the United States and/or other countries. All other trademarks
are the property of their respective owners. Product features,
specifications, system requirements and availability are subject to
change without notice.
Media contact:Jim
SheehanAvidjim.sheehan@avid.com978.640.3152
Investor contact:Dean
RidlonAviddean.ridlon@avid.com978.640.3379
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