Intel to pay $1.25 billion to AMD to settle dispute
November 12th, 2009 - 10:29 pm ICT by Aishwarya Bhatt
New York, Nov 12 (THAINDIAN NEWS) The world’s two largest computer processor makers settled their dispute today that that being going on for years. Intel Corp. agreed to pay Advanced Micro Devices Inc. $1.25 billion as part of a legal settlement to end their dispute.
‘The settlement includes all antitrust litigation and patent cross-license disputes’, the companies said in a statement today. Both the companies agreed to a newly drafted 5-year cross-license pact. They also agreed to give up any claims of breach from the previous agreement. Intel also agreed to honor and respect a set of business-practice provisions while also agreeing to pay AMD a financial settlement of $1.25 billion.
On its part, AMD agreed to drop all its pending litigation in the US District Court in Delaware and the other two cases, which are currently running in Japan. AMD in a fit of generosity also agreed to withdraw all the regulatory complaints it had made to various governments in the whole world against Intel.
The companies said that the settlement will now let them focus on product innovation and development, instead of spending time and effort in the courtrooms slugging out with one another. “While the relationship between the two companies has been difficult in the past, this agreement ends the legal disputes and enables the companies to focus all of our efforts on product innovation and development,” Intel and AMD said in a joint statement.
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