Chip-making giants Broadcom Corp. and Intel Corp. are burying a longstanding
legal hatchet, striking a settlement in several patent lawsuits pending in
federal courts and before the International Trade Commission.
Under the settlement, the two companies have agreed to dismiss the various
claims and counterclaims related to patents covering networking, video
compression and single-chip packaging.
Broadcom will also pay Intel $60 million in cash in two installments during the
third and fourth quarters this year.
In addition, Broadcom and Intel will enter a separate cross-licensing
agreement covering patents owned by both sides that are filed through Aug. 7,
2007.
Broadcom will add a one-time $60 million charge for the quarter that ended
June 30.
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