Creative Technology says Apple to pay for patent licence in lawsuit settlement

Creative Technology subsidiary, ZiiLabs, has entered into an agreement with Apple to settle a patent infringement lawsuit filed in 2014.
Creative Technology subsidiary, ZiiLabs, has entered into an agreement with Apple to settle a patent infringement lawsuit filed in 2014.PHOTO: BLOOMBERG

SINGAPORE - Creative Technology announced on Friday (Oct 30) that its wholly-owned subsidiary, ZiiLabs Inc, has entered into an agreement with Apple to settle its patent infringement lawsuit filed in the United States against Apple in March 2014.

As part of the agreement, Apple will take a license for the ZiiLabs' patents.

Creative said expects the license payment will contribute approximately US$0.23 of earnings per share to its current quarter ending Dec 31.