Intel has bought itself a last-minute reprieve from a Federal anti-trust case accusing it of monopoly practices only 24 hours before the trial was due to begin. The chip giant has reached an out of court settlement with the Federal Trade Commission (FTC). Intel and attorneys for the FTC submitted a joint proposal to the Commission's secretary to withdraw the FTC's case from adjudication. According to a representative at Intel, the settlement is subject to approval from the FTC and until it is granted, the details will remain confidential.
Craig Barrett, chief executive of Intel, commented: 'We view this compromise as a win for both parties and we are satisfied that the agreement gives us value for our intellectual property rights.'
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