In a joint statement the two companies commented, “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.”
Under terms of the agreement, AMD and Intel obtain patent rights from a new 5-year cross license agreement, Intel and AMD will give up any claims of breach from the previous license agreement, and Intel will pay AMD $1.25 billion. Intel has also agreed to abide by a set of business practice provisions. As a result, AMD will drop all pending litigation including the case in U.S. District Court in Delaware and two cases pending in Japan. AMD will also withdraw all of its regulatory complaints worldwide. The agreement will be made public in filings with the Securities and Exchange Commission.
Sources: Intel Corporation, Advanced Micro Devices
Jim Goldman reports for CNBC, “I’ve just gotten off the phone with Andy Bryant, Intel’s former Chief Financial Officer and now the company’s Chief Administrative Officer, who offered to walk me through some of the background connected to this case, and the reasons why Intel is settling the case now. I asked some very pointed questions, and Bryant, in his characteristic way, gave me some very candid, pointed answers.”
Goldman writes, “There are still some serious legal clouds hanging over Intel, but if you look closely, that may be the sun peeking through.”
Full article here.
[Thanks to MacDailyNews Reader "Citymark" for the heads up.]
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