Juniper pays Network-1 $12.7m patent settlement

Network-1 Technologies, Inc. said it agreed to revise its previously announced settlement with Juniper Networks, Inc. over patent litigation for infringement of Network-1’s Remote Power Patent pending in the US District Court for the Eastern District of Texas.

Network-1 said it agreed to revise the settlement to avoid the possibility of protracted litigation regarding enforcing the settlement.

Network-1 said in a statement: “Under the terms of the revised settlement, Juniper paid Network-1 $12,700,000 (reduced from $13,250,000 in the original settlement) and received a fully-paid license to the Remote Power Patent (and certain other patents owned by Network-1) for its full term which expires in March 2020, which will apply to its sales of Power over Ethernet (PoE) products, including those PoE products which comply with the Institute of Electrical and Electronic Engineers (IEEE) 802.3af and 802.3at Standards.”