San Jose, CA – May 31, 2016 – Silver Spring Networks, Inc. (NYSE:SSNI) today applauded the ruling by the United States Court of Appeals for the Federal Circuit, which denied motions by EON Corp. IP Holdings, LLC for a panel rehearing and hearing en banc. The court’s ruling upholds its previous ruling reversing a judgment from the U.S. District Court for the Eastern District of Texas regarding patent claims covering wireless communication that had awarded approximately $13.0 million plus pre-judgment interest to EON.
“We are pleased with the decision of the U.S. Court of Appeals,” said Rick Arnold, General Counsel, Silver Spring Networks. “We remain proud of our innovation and, as we have consistently noted, will vehemently defend Silver Spring and our customers.”
The court’s ruling is expected to result in the release of various sureties that were required of Silver Spring and to allow Silver Spring to seek recovery of its costs.
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About Silver Spring Networks
Silver Spring Networks is a leading networking platform and solutions provider for smart energy networks. Silver Spring’s pioneering IPv6 networking platform, with over 24.3 million Silver Spring enabled devices delivered, is connecting utilities to homes and businesses throughout the world with the goal of achieving greater energy efficiency for the planet. Silver Spring’s innovative solutions enable utilities to gain operational efficiencies, improve grid reliability, and empower consumers to monitor and manage energy consumption. Silver Spring Networks’ customers include major utilities around the globe such as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, Consolidated Edison, CPS Energy, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Progress Energy, and Singapore Power, among others. To learn more, please visit www.silverspringnet.com.
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This press release contains forward-looking statements about Silver Spring Networks’ expectations, plans, intentions, and strategies, including, but not limited to, statements regarding Silver Spring’s beliefs regarding the EON matter and its effect on sureties and costs. Statements including words such as “anticipate”, “believe”, “estimate”, “expect” or “future” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in Silver Spring Networks’ documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Silver Spring Networks as of the date hereof. Silver Spring Networks assumes no obligation to update these forward-looking statements.