Intel Corp (NASDAQ: INTC) will pay Advanced Micro Devices (NYSE: AMD) $1.25 billion to settle antitrust and intellectual property litigation. As part of the settlement AMD will drop all pending litigation as well as withdraw regulatory complaints it had filed against Intel.
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In a joint statement released by the companies it was noted, “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.”
As part of the agreement AMD and Intel will gain patent rights from a new five-year cross-license agreement.
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