Align Settles Orthodontics Patent War In $90M Deal

Law360, New York (August 17, 2009, 12:35 PM EDT) -- Align Technology Inc. and Ormco Corp. have agreed to settle all pending patent litigation in a cash-and-stock deal worth approximately $90 million and will launch a collaborative effort to develop a new orthodontic product, the companies announced Monday.

As part of the settlement, Align, the maker of clear orthodontic braces called Invisalign, will make a cash payment of approximately $13 million to Ormco and issue approximately 7.6 million shares of Align's common stock to Ormco's parent, Danaher Corp., which after issuances will be equal to approximately...
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