Sasken Technologies Ltd.

Sasken Communication Technologies has 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.

In December 2012, Sasken approached American Arbitration Association's International Centre for Dispute Resolution (AAA) over non-payment of royalties, which was contractually agreed by Spreadtrum for the software/IP licensed by Sasken as part of the joint development project undertaken by both the parties. Spreadtrum failed to meet the above and other obligations to Sasken, a decision that resulted in arbitration filed by Sasken before the American Arbitration Association's International Centre for Dispute Resolution.  Spreadtrum is required to pay within 30 days an amount of $31.7million and further continue to pay royalties for the Foreground IP provided by Sasken.

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.