Announced this week, Broadcom Corporation and Qualcomm Incorporated have entered into a settlement and multi-year patent agreement. Under the terms of the settlement agreement, Qualcomm has agreed to pay Broadcom $891 million over four years. Other notable terms of the agreement include dismissal of all litigation between the companies and Broadcom’s withdrawal of its complaints to the European Commission and the Korea Fair Trade Commission. According to Qualcomm’s press release, the parties have also agreed to grant one another certain rights under their respective patent portfolios.
To read the full text of Qualcomm’s recent press release, Click Here.