HP To Pay $325M To Settle Patent Dispute With EMC Over Data Storage Systems

Law360, New York (May 3, 2005, 12:00 AM EDT) -- Hewlett-Packard Co. has agreed to pay $325 million to EMC Corp. to settle a protracted patent dispute over data-storage systems.

As part of the agreement, HP will will pay a total of $325 million to EMC over five years by purchasing EMC products for internal use or for resale. The two companies also signed a five-year cross-licensing agreement, without either side admitting wrongdoing.

Both companies had sued and countersued one another over alleged infringement of a number of patents. The settlement calls for both companies to...
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