April 19, 2018 / 2:07 PM / 5 months ago

BRIEF-MIPS And POC Sweden Have Reached Settlement

April 19 (Reuters) - MIPS AB:

* MIPS AND POC SWEDEN HAVE REACHED A SETTLEMENT AND WILL STRENGTHEN THEIR COOPERATION

* MIPS AND POC HAVE TODAY AGREED ON A SETTLEMENT WITH RESPECT TO ONGOING LEGAL PROCEEDINGS

* SAYS SETTLEMENT AGREEMENT DOES NOT INCLUDE ANY OBLIGATION FOR ANY PARTY TO REIMBURSE OTHER PARTY FOR COSTS INCURRED IN RELATION TO LEGAL PROCEEDINGS

* COMPANIES INTEND TO JOINTLY DEVELOP SAFER HELMETS COMBINING POC AND MIPS’ STRENGTHS IN TECHNOLOGICAL INNOVATION, STYLE AND QUALITY

* COOPERATION IS ESTIMATED TO HAVE A LIMITED IMPACT ON 2018 NET SALES OF MIPS Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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