Cree LED, a brand of Penguin Solutions (NASDAQ: PENG), and Nanolumens have concluded a patent cross-licensing agreement to resolve a dispute involving LED components used in display technologies. The terms of the deal were not disclosed.
Both companies, North American manufacturers of LED displays, have operated in the sector for decades. Cree LED, headquartered in Durham, North Carolina, provides LED chips and components for applications including general lighting, portable lighting, horticulture, specialized lighting, and large-format screens. Nanolumens specializes in LED display solutions for commercial, educational, governmental, sports, and entertainment sectors, with offerings that include curved-screen products.
The agreement follows mutual monitoring of the global market for unauthorized use of patented technologies. Both firms stated they will continue to track potential infringements across the entire value chain, from manufacturers and suppliers to end users, to protect their intellectual property rights.
