AVX and Presidio Components Settle All Outstanding Litigation

Rhea-AI Summary

AVX Corporation and Presidio Components have settled all outstanding litigation claims, entering into confidential licenses and agreements. AVX's CEO, Johnny Sarvis, expressed satisfaction with the resolution, highlighting that it enables AVX to focus on delivering advanced electronic solutions, including ultrabroadband capacitors. Presidio's CEO, Alan Devoe, noted that the agreement validates their patents, allowing them to concentrate on developing ceramic capacitors. This partnership aims to enhance customer value without the burden of ongoing legal disputes.

Positive

• Settlement allows AVX to focus on advanced electronic components and customer solutions.
• Agreement supports Presidio in concentrating on ceramic capacitor development.

Negative

• None.

FOUNTAIN INN, SC and SAN DIEGO, CA, Nov. 17, 2020 (GLOBE NEWSWIRE) -- AVX Corporation, a Kyocera group company, and Presidio Components, Inc. today announced they have settled all outstanding claims between the companies. The two parties have entered into appropriate licenses and agreements and have agreed to dismiss all related litigation. Specific l terms of the agreement remain confidential.

“We are pleased to have reached agreement with Presidio Components and resolved all of our outstanding litigation under terms that allow us to freely work with our customers and allows AVX to focus on building the industry’s leading portfolio of advanced electronic components,” said Johnny Sarvis, CEO of AVX Corporation. “We look forward to continuing to provide value added electronic solutions to solve our customers’ toughest electronic challenges including ultrabroadband capacitors.”

AVX is a leading manufacturer & supplier of advanced electronic components and interconnect, sensor, controls and antenna solutions.

Alan Devoe, president and CEO of Presidio Components, said, “We are very pleased to reach an agreement with AVX Corporation that recognizes the value of our patents and our contribution to the development of ceramic capacitors. The signing of this agreement allows Presidio to focus 100% on building the leading portfolio of ceramic capacitors, making this agreement very positive for our customers.”

Presidio Components is a manufacture of ceramic capacitors.

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• AVX-Presidio-PRImage

FAQ

What was the recent settlement between AVX and Presidio Components?

AVX and Presidio Components settled all outstanding litigation claims and entered into confidential agreements, resolving their disputes.

How will the settlement affect AVX's operations?

The settlement allows AVX to focus on providing advanced electronic solutions, including ultrabroadband capacitors, without the distraction of litigation.

What is the significance of the agreement for Presidio Components?

The agreement validates Presidio's patents and enables them to concentrate fully on their ceramic capacitor portfolio.

When was the settlement between AVX and Presidio announced?

The settlement was announced on November 17, 2020.

What are the future plans for AVX post-settlement?

AVX plans to continue building its portfolio of advanced electronic components and providing solutions to customer challenges.