On April 9, 2013, Exar Corp., Mission West Properties, L.P. and related entities, and Kovio, Inc. entered into a settlement agreement and full mutual general release to settle the pending litigation between the parties (Santa Clara County Superior Court, Case No. 1-11-CV-206456) arising from the sale, lease and sublease of property located at 233 South Hillview Drive, Milpitas, California. Exar agreed to pay $2,412,088 to Mission West within thirty days of execution of the agreement and release and allow Mission West to retain its security deposit of $242,682. Kovio also agreed to pay certain amounts to Mission West. Exar agreed to return to Kovio a security deposit in the amount of $314,929. Upon payment by Exar and Kovio, Mission West’s complaint and Exar’s cross-complaint in the action will be dismissed with prejudice. The parties agreed to bear their own attorney’s fees and costs. The Agreement and Release contains mutual releases whereby Mission West, Exar, and Kovio each agreed to release each other from all claims, known and unknown, arising out of, in connection with, or relating to the action or the events or incidents referred to in the pleadings in the action.

Symphony Teleca Corporation announced that it has become a strategic development partner to Kovio, Inc. Symphony Teleca will leverage its expertise in the development of big data analytics platforms for retailers, brands, and consumer packaged goods (CPG) industries to co-develop mobile services and applications that enable marketers and advertisers to conduct dynamic and integrated NFC-based mobile marketing campaigns using NFC tags activated by consumers' own NFC-enabled mobile phones. The development of NFC-based mobile marketing creates a new era in the way brand marketers engage consumers, drive conversion and build brand loyalty through opt-in, personalized, authentic, and contextual experiences at both point of purchase and point of use. The combined NFC-based platform and solutions enable an integrated mobile consumer-brand engagement, encompassing printed media, out-of-home displays, in-store shopper marketing, and item-level packaging.

Square 1 Bank announced that it provided a $5 million debt facility to Kovio, Inc. Proceeds of the credit facility will be used to support the company's growth.