Radware Ltd. (Nasdaq:RDWR) has won its patent violation case against US competitor F5. A California jury unanimously affirmed the validity of Radware's patents, and found that F5 had deliberately violated two patents registered in Radware's name.
The verdict stipulated $6.4 million in damages for Radware, but according to Radware's announcement, the Court is likely to triple the damages to $19.2 million, because the jurors' verdict was unanimous. Radware will also be able to request an injunction against future sales of Big-IP, the F5 product that was found to have violated Radware's patents.
Radware filed its claim in May 2013, almost three years ago, and the current legal proceeding took several weeks.
"This is a significant victory for Radware," said Radware president and CEO Roy Zisapel. "The Court reinforced and reaffirmed our leadership in innovation. We intend to continue defending our intellectual property."
Radware, a subsidiary of the Zisapel brothers' Rad-Bynet Group, provides accessibility, high-performance, and communications networks security solutions for organizations, computer centers, and applications. The company's market cap is $522 million, compared with $6.9 billion for F5.
Radware posted a $33.7 million non-GAAP net profit in 2015, down 16.4%, compared with 2014, on $217 million in revenue, down 2.4%, compared with 2014.
Published by Globes [online], Israel business news - www.globes-online.com - on March 17, 2016
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