Broadcom Corp. and Intel Corp. announced Friday that they have reached a settlement regarding patent disputes between the two companies and their subsidiaries, an argument which dates back to March 2000.
As part of the deal Irvine, Calif.-based Broadcom will pay Intel US$60 million in two US$30 million instalments during Q3 and Q4 of 2003. The companies have agreed to cross-license some of the patents in question.
According to a joint statement issued by both companies, there will be no fees or royalties paid to either party with respect to business as currently conducted or planned.
Both companies expressed satisfaction with the deal, the statement noted.
Before this agreement was reached, there were still eight matters pending with respect to patents involving packaging technologies, graphics technologies, and communications patents, said Chuck Mulloy, Intel spokesperson in Santa Clara, Calif. This deal represents the resolution of all eight settlements.