MIPS and POC have agreed on a settlement with respect to ongoing legal proceedings.
On November 15, 2017, MIPS AB disclosed that the company had been granted a preliminary injunction in Germany in order to prevent an infringement by POC Sweden AB of one of MIPS’ patents. Following POC’s opposition, the preliminary injunction was withdrawn on March 16 and POC filed a counter-claim against MIPS.
The settlement agreement reached does not include any obligation for any party to reimburse the other party for the costs incurred in relation to the legal proceedings. The companies intend to jointly develop safer helmets, combining POC and MIPS’ strengths in technological innovation, style and quality. The cooperation is estimated to have a limited impact on the 2018 net sales of MIPS.
