Sasken Communication gets Rs 43 cr royalty from Spreadtrum

Sasken Communication Technologies has received the first tranche of $7 million (about ₹43 crore) of the total $31.7 million that Spreadtrum Communications Inc has to pay as royalty for software intellectual patent provided by it. On July 1, Sasken had informed the exchanges that it had received the arbitration award in its favour in a case against Spreadtrum Communications in the US and will receive a payment of $31.7 million within 30 days from Spreadtrum. Shares of Sasken edged up 2 per cent at ₹296.05 on the BSE.