Cree LED and Nanolumens settle patent dispute with cross-license deal

Cree LED, a brand of Penguin Solutions (Nasdaq: PENG), and Nanolumens have entered into a patent cross-license agreement that resolves a patent infringement dispute, according to a press release from the companies.

The dispute involved Cree LED's patents related to LED components commonly used in LED displays. The terms of the settlement were not disclosed.

Both companies are U.S.-based and said they actively monitor the global market for unauthorized use of their patented technologies across the supply chain, from manufacturers and suppliers to end users.

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