Broadcom to pay Intel $60 million

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Broadcom said Friday that it will pay rival chipmaker Intel $60 million in cash and submit to technology cross-licensing agreements rather than stand up to pending patent litigation.

The two companies reported that they put an end to all pending litigation around Intel's claim that Broadcom violated five different patents held by the chip giant. The various lawsuits filed in federal courts and with the International Trade Commission (ITC) were dismissed in favor of reciprocal licensing pacts and the $60 million payment to Intel, to be delivered in equal installments during the third and fourth quarters of fiscal 2003.

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