ITT Corporation Reaches Patent Settlement Agreement with Motorola
July 16 2010 - 1:05PM
Business Wire
ITT Corporation (NYSE: ITT) announced that it has reached a
settlement agreement with Motorola, Inc. regarding ITT's patent
infringement claim for assisted-Global Positioning System (GPS)
technology. The settlement agreement is expected to resolve all
issues between the companies regarding ITT's claim that Motorola
mobile devices incorporating assisted-GPS technology infringed
ITT's patent rights. Details of the settlement will not be made
available.
"ITT is pleased with this outcome, and our actions demonstrate
that we remain fully committed to protecting ITT's valuable
intellectual property portfolio," said Frank Jimenez, vice
president and general counsel for ITT.
Litigation concerning ITT's patent infringement claims continues
against multiple other companies.
About ITT Corporation
ITT Corporation is a high-technology engineering and
manufacturing company operating on all seven continents in three
vital markets: water and fluids management, global defense and
security, and motion and flow control. With a heritage of
innovation, ITT partners with its customers to deliver
extraordinary solutions that create more livable environments,
provide protection and safety and connect our world. Headquartered
in White Plains, N.Y., the company generated 2009 revenue of $10.9
billion. www.itt.com
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