October 20, 2015 - Asetek® announces that it has received a settlement payment
of approximately $1.4 million, which is the final payment due under the nearly
$1.9 million settlement with CoolIT Systems, Inc.
On June 15, 2015, Asetek announced that its patent infringement lawsuit against
CoolIT Systems was concluded when the United States District Court for the
Northern California on June 12, 2015 determined that CoolIT Systems must pay
damages to Asetek in the amount of approximately $1.9 million. The ruling was
not appealable by either party and Asetek announced that it expected to receive
full payment within 180 days from the date of the Court's ruling. Asetek
received an initial payment of $0.5 million from CoolIT Systems in July 2015 and
with the balance of the settlement now received, the matter is closed. The $1.4
million will be recorded in the fourth quarter 2015 financial statements.
"As part of Asetek's efforts to build and maintain market share, we have
consistently defended our portfolio of intellectual property," said André Sloth
Eriksen, Founder and CEO of Asetek. "We are pleased that our investments and
efforts yield results. Both in the form of damages amounts, but more importantly
in the form of increased revenues moving forward".
Asetek holds a substantial portfolio of intellectual property rights and patents
and the company continues to closely review and assess competitive offerings for
infringement of its patents.
About Asetek
Asetek is the world leading provider of energy efficient liquid cooling systems
for data centers, servers, workstations, gaming and high performance PCs. Its
products are used for reducing power and greenhouse emissions, lowering acoustic
noise, and achieving maximum performance by leading OEMs and channel partners
around the globe.
Asetek's products are based upon its patented all-in-one liquid cooling
technology with more than 2 million liquid cooling units deployed in the field.
Founded in 2000, Asetek is headquartered in Denmark with offices in California,
China and Taiwan. For more information, visit http://www.asetek.com
For further information, please contact:
André S. Eriksen, Chief Executive Officer
Mobile: +45 2125 7076, e-mail: ceo@asetek.com