Intel has agreed to pay AMD $1.25bn (£755m) as part of a comprehensive agreement to end their long-running legal spat.
As part of the agreement, AMD will drop all pending litigation and withdraw all of its regulatorly complaints worldwide. The arch rivals have also obtained patent rights from a new five-year cross-licence agreement.
In a joint statement, the duo said: “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.”
Jeremy Davies, founder of research house Context, hailed the agreement as a boon for both companies and the channel.
“With AMD withdrawing its regulatory complaints worldwide, hopefully both Intel and AMD will now be able to focus more of their efforts on providing support to their channel in Europe,” he said.
AMD’s shares rallied by more than 20 per cent on the news.
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