NetworksAMD: We've Received the $1.25 Billion From Intel.
The healing begins.
Nearly a month ago, Intel and AMD announced a settlement of $1.25 billion to end the disputes between the companies.
AMD announced late Thursday that it has received the $1,250,000,000 from Intel, according to Trading Markets. This satisfies one of the terms of the settlements, which are:
Under terms of the agreement:
-Â Â Â Â Â Â Â Â Â AMD and Intel obtain patent rights from a new 5-year cross license agreement
-Â Â Â Â Â Â Â Â Â Intel and AMD will give up any claims of breach from the previous license agreement
-Â Â Â Â Â Â Â Â Â Intel will pay AMD $1.25 billion.
-Â Â Â Â Â Â Â Â Â Intel agrees 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.
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."