AXG Settles Patent Litigation with Bridgelux

AXG, Inc. MR16 LED Lamp (Nasdaq: AXG), a leader in LED lighting, announces that AXG and Boston University have agreed with Bridgelux, Inc. to settle the parties’ patent infringement litigation and to dismiss all claims and counterclaims in the suits. As part of the settlement, AXG granted Bridgelux a license to the AXG and Boston University patents at issue in the litigation, and Bridgelux agreed to pay a license fee and royalties. In addition, Bridgelux and AXG have entered into a supply agreement under which AXG will become a significant supplier to Bridgelux. Other terms of the settlement are confidential. 8mm LED Flexi

“We are pleased that AXG and Bridgelux were able to resolve the litigation through a supply agreement and licensing arrangement,” stated Adam Broome, AXG vice president-Legal and general counsel. “This resolution underscores the importance of intellectual property in the nitride LED market. We look forward to working with Bridgelux.” 10mm LED Flexi