CamelBak Products Inc. and Osprey Packs Inc. have settled a patent infringement dispute with a confidential agreement, the two companies announced Tuesday.
In late February, 2015, CamelBak sued Osprey in California federal court, alleging it had infringed on CamelBak's patent of its hands-free reservoir hydration systems. On Tuesday, the companies resolved the issue.
“I am pleased that we were able to come to a quick and satisfactory resolution of the lawsuit,” CamelBak CEO Sally McCoy said in a statement issued by both companies.
Tom Barney, CEO of Osprey Pack, added “We are happy to have this matter settled and for both companies to be able to focus on the future.”
The terms of the agreement are confidential.
Founded in 1989, CamelBak pioneered the hands-free hydration category and is a global leader in personal hydration gear. The company's product line includes everything from technical hydration packs to reusable bottles and individual UV purification systems for users in the outdoor recreation, home and military markets. CamelBak parent company Compass Diversified Holdings Inc. announced Monday, July 27 that it had reached an agreement to sell the company to UT-based Vista Outdoor for a profit of about $160 million.
Osprey Packs is a leader in technical packs for outdoor, cycling, travel and urban adventures that entered the hydration market in the late 2000s.
