Sasken Communication Technologies has received the first tranche of $7 million from Spreadtrum Communications. Earlier on July 01, 2014, the company had received arbitration award in its favor in the matter of Spreadtrum Communications Inc (Spreadtrum). The award recognizes that the agreement between the parties is in full force and as a result, Spreadtrum has been directed to pay $31.7 million within 30 days, towards royalties and interest on unpaid royalties. Further, the Arbitrator had directed Spreadtrum to continue to provide royalty reports and pay the contracted royalties on an ongoing basis.
Sasken is a leader in providing Engineering R&D and Productized IT services to global tier 1 customers in the Communications & Devices, Retail, Insurance and Independent Software space.
