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$RMBS Pops 9% as They Settle Litigation Suit With Hynix

Rambus Inc. (RMBS) said it settled its patent litigation with SK Hynix Inc. (000660) and signed a license agreement for the South Korean memory-chip maker to use its technology.

“This is a milestone agreement for both companies that puts years of legal disputes behind us and gives us the opportunity for collaboration,” Rambus Chief Executive Officer Ron Black said yesterday in a statement.

The five-year agreement with SK Hynix will bring in $12 million a quarter, according to the statement.

A federal judge in San Jose, California, last month ordered Rambus to pay $250 million to SK Hynix for destroying documents in their litigation. Rambus, based in Sunnyvale, California, won a $349 million judgment on its patent-infringement claims in 2006.

Representatives of SK Hynix didn’t immediately respond to an e-mail seeking comment on a licensing accord….”

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