MIGDAL HAEMEK, Israel,
July 31, 2017 /PRNewswire/ --
Camtek Ltd. (NASDAQ: CAMT and TASE:
CAMT), today announced that it has reached a settlement with
Rudolph Technologies Inc. relating to pending patent lawsuits that
Rudolph filed against Camtek and that Camtek filed against Rudolph.
According to the settlement, Camtek will pay Rudolph the sum of
$13 million and each side will
dismiss their claims against each other with prejudice. The
settlement further gives Camtek a perpetual right to sell its
existing products, the Condor, Gannet and Eagle, as well as future
products, without any claim of patent infringement from any of the
patent families that Camtek had been sued on. Camtek granted
similar rights to Rudolph on Camtek's patent for Kerf
inspection.
In addition, the parties agreed to a quiet period of three
years, during which neither party may file any action seeking
damages against the other party. Camtek will record the
$13 million payment to Rudolph as a
one-time expense in its second quarter 2017 GAAP results.
Rafi Amit,
Camtek's CEO, commented, "Despite our
confidence that our technologies do not infringe Rudolph's patents,
after more than a decade of disputes with Rudolph, we have decided
it is in our best interests to close this chapter and come to a
final settlement. This settlement removes the significant
management distraction and ongoing expenses, which we believe would
have been well in excess of the settlement amount. Furthermore,
following the recent sale of our PCB business, management can now
significantly sharpen its focus on its Semiconductor activities in
general, and specifically the advanced packaging segment."
ABOUT CAMTEK LTD.
Camtek Ltd. provides automated and technologically advanced
solutions dedicated to enhancing production processes, increasing
products yield and reliability, enabling and supporting customer's
latest technologies in the Semiconductors, Printed Circuit Boards
(PCB) and IC Substrates industries.
Camtek addresses the specific needs of these interconnected
industries with dedicated solutions based on a wide and advanced
platform of technologies including intelligent imaging, image
processing and functional 3D inkjet printing.
This press release is available at http://www.camtek.com
This press release may contain projections or other
forward-looking statements regarding future events or the future
performance of the Company. These statements are only predictions
and may change as time passes. We do not assume any obligation to
update that information. Actual events or results may differ
materially from those projected, including as a result of changing
industry and market trends, reduced demand for our products, the
timely development of our new products and their adoption by the
market, increased competition in the industry, intellectual
property litigation, price reductions as well as due to risks
identified in the documents filed by the Company with the
SEC.
CAMTEK LTD.
Moshe Eisenberg, CFO
Tel: +9-72-4-604-8308
Mobile: +9-72-54-900-7100
moshee@camtek.com
INTERNATIONAL INVESTOR RELATIONS
GK Investor Relations
Tel: +1-646-688-3559
Ehud Helft / Gavriel Frohwein
camtek@gkir.com
SOURCE Camtek Ltd