ROLLING MEADOWS, Ill.,
Dec. 8, 2020 /PRNewswire/
-- Cambium Networks Corporation (NASDAQ: CMBM), a leading
provider of wireless networking infrastructure
solutions, today announced that it has reached a settlement of
the lawsuit filed by Ubiquiti Inc. (NYSE:UI) in the United States District Court, Northern
District of Illinois, against
Cambium Networks and certain other named defendants regarding
Cambium Networks' development, marketing, licensing and sale of its
Elevate software for use on Ubiquiti devices.
![Cambium Networks Logo (PRNewsFoto/Cambium Networks) Cambium Networks Logo (PRNewsFoto/Cambium Networks)](https://mma.prnewswire.com/media/117974/cambium_networks_logo.jpg)
Under the terms of the settlement, Cambium Networks will pay an
undisclosed sum to Ubiquiti, which Cambium Networks has already
accrued and reflected in its financial results for the three months
ending September 30, 2020 as
reflected in its quarterly report on Form 10-Q filed with the
Securities and Exchange Commission on November 6, 2020, and Cambium Networks has agreed
to no longer manufacture, market, sell or distribute Elevate
software for use on Ubiquiti devices or issue additional licenses
for the use of Elevate software on Ubiquiti devices. Cambium
Networks, however, will continue to support Ubiquiti devices that
have been Elevated according to its standard support obligations
for discontinued products. The parties have agreed that the
remaining terms of the settlement agreement shall remain
confidential.
No party has admitted any wrongdoing or liability in connection
with the lawsuit and there has not been any court finding as to the
merits of the lawsuit or any of the claims and defenses asserted
therein. However, in order to avoid the expense, burden and
uncertainty of litigation, the parties have entered into this
confidential settlement agreement to resolve the dispute.
About Cambium Networks
Cambium Networks empowers millions of people with wireless
connectivity worldwide. Its wireless portfolio is used by
commercial and government network operators as well as broadband
service providers to connect people, places and things. With a
single network architecture spanning fixed wireless and Wi-Fi,
Cambium Networks enables operators to achieve maximum performance
with minimal spectrum. End-to-end cloud management transforms
networks into dynamic environments that evolve to meet changing
needs with minimal physical human intervention. Cambium Networks
empowers a growing ecosystem of partners who design and deliver
multi-gigabit wireless solutions that just work.
Media Contact:
Dave Reddy
Big Valley Marketing for Cambium
+1 (650) 868-4659
dreddy@bigvalley.co
View original content to download
multimedia:http://www.prnewswire.com/news-releases/cambium-networks-corporation-announcement-of-litigation-settlement-301187844.html
SOURCE Cambium Networks