IPG Photonics and Newport Settle Patent Lawsuit
OXFORD, Mass., and IRVINE, Calif., Feb. 5, 2007 -- Laser industry rivals IPG Photonics Corp. and Newport Corp. today announced that the two companies have settled patent infringement claims made against IPG Photonics by Spectra-Physics Inc., a subsidiary of Newport, as well as IPG Photonics' counterclaims against Spectra-Physics. Terms of the settlement were not disclosed.
California-based Newport makes advanced-technology products and systems for the semiconductor, communications, electronics, research, and life and health sciences markets. IPG Photonics is located in Massachusetts and manufactures high-performance fiber lasers and amplifiers for markets including materials processing, communications, medical and scientific, and research.
The settlement related to a complaint filed with the US District Court for the Northern District of California in June 2006 by Spectra-Physics alleging that some IPG Photonics optical fiber laser and amplifier products infringed a US patent it owned. According to a Securities and Exchange Commission filing IPG made in October, Spectra-Physics was seeking damages of more than $20 million for patent claims relating to laser-diode pumping of a single-mode fiber core of laser material through the use of a surrounding multimode pump cavity. The patent expires in June 2007.
IPG Photonics does not expect the agreement to have a material impact on its financial statements or condition, the company said in a statement.
The case was dismissed with prejudice under the settlement agreement. For more information, visit: www.newport.com or www.ipgphotonics.com