Investing.com — Qualcomm scored a major legal victory Friday when a U.S. jury ruled that the company did not violate its licensing agreement for U.K.-based companies Arm ‘s chip designs after the Nuvia acquisition.
Arm had argued that Qualcomm should have renegotiated its existing agreement with Nuvia after purchasing the startup. The British chip designer wanted Qualcomm to destroy the designs it acquired through the acquisition.
But Qualcomm claimed it already had a separate license for Arm technology that covered its work. Nuvia’s technology is crucial to Qualcomm’s breakthrough in the computer processor market.
The jury could not reach a consensus on whether Nuvia itself had violated its licensing agreement.
Qualcomm Incorporated (NASDAQ:) rose 1.8% in after-hours trading on Friday, while Arm Holdings ADR (NASDAQ:) fell 1.7%.
