Camtek to pay $13M to Rudolph for setttlement
Camtek announced that it has reached a settlement with Rudolph Technologies relating to pending patent lawsuits that Rudolph filed against Camtek and that Camtek filed against Rudolph. According to the settlement, Camtek will pay Rudolph the sum of $13M and each side will dismiss their claims against each other with prejudice. The settlement further gives Camtek a perpetual right to sell its existing products, the Condor, Gannet and Eagle, as well as future products, without any claim of patent infringement from any of the patent families that Camtek had been sued on. Camtek granted similar rights to Rudolph on Camtek's patent for Kerf inspection. In addition, the parties agreed to a quiet period of three years, during which neither party may file any action seeking damages against the other party. Camtek will record the $13M payment to Rudolph as a one-time expense in its Q2 GAAP results.