It was a busy weekend for two of the industry’s biggest names, as Apple and HTC have finally reached a compromise in their long and bitter patent war. According to press releases posted by both Apple and HTC yesterday, both sides have agreed upon a global settlement. The agreement will dismiss all current lawsuits and the companies will enter into a 10-year license agreement.
While the agreement will cover all current and future patents over the next decade, the specific financial details of the license agreement are unknown to the public and remain under a confidential blanket. It is widely believed that HTC is paying Apple as part of the terms. HTC does not expect the deal to have “an adverse material impact on the financials of the company,” Sally Julien, a spokeswoman for HTC, said in a statement.
CEOs from both companies stated that they were pleased to have found a resolution and are looking forward to putting the focus back on “innovation”.
Anyone else relieved that we don’t have to hear about these two fighting for at least another 10 years?