TEL AVIV, Israel--(Business Wire)--
Elron Electronic Industries Ltd. (NASDAQ:ELRN) (TASE:ELRN), today
announced that Given Imaging Ltd. (NASDAQ:GIVN) (TASE:GIVN), 18.3%
held by Elron and 9.1% held through Elron's 50.1% subsidiary, RDC,
today announced that it has signed a term sheet with Olympus
Corporation outlining a settlement of the patent litigation between
the two companies in the United States.
Given Imaging announced that the term sheet includes certain
worldwide royalty-free cross-licenses for their respective existing
capsule endoscopy products and a release of all past causes of action.
Given Imaging stated that the settlement will become final upon
the signing of a formal written agreement, and have asked the Court to
stay all activity in the pending litigation.
Elron Electronic Industries Ltd. (NASDAQ:ELRN) (TASE:ELRN), a
member of the IDB Holding group, is a leading Israel-based technology
holding company directly involved in the long-term performance of its
group companies. Elron identifies potential technologies, creates
strategic partnerships, secures financing, and recruits highly
qualified management teams. Elron's group companies currently comprise
a diverse range of publicly-traded and privately held companies
primarily in the fields of medical devices, information &
communications technology, clean technology and semiconductors. For
further information, please visit www.elron.com
(Any statements in this press release that may be considered
forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially. Actual results may
differ from such forward-looking statements due to the risk factors
discussed in periodic reports filed by the Company with the Securities
and Exchange Commission, which the Company urges investors to
consider)
Elron Electronic Industries Ltd.
Rinat Remler, Vice President & CFO
Tel. 972-3-6075555
elron@elron.net
Copyright Business Wire 2008
