Qualcomm Pays Broadcom $891M In Patent Settlement

San Diego-based Qualcomm and Irvine-based Broadcom announced late last night that the two companies have reached a settlement and patent agreement, which will dismiss all litigation between the companies. According to the two, Qualcomm will pay Broadcom $891M over four years in the settlement. According to the firms, the settlement covers all patent infringement claims in the ITC and U.S. District Court in Santa Ana, as well as withdrawal of Broadcom complaints to the European Commission and the Korea Fair trade Commission. The two also said that the settlement will not result in any change to Qualcomm's licensing and revenue model.