SYMC , Symantec to Pay $10 Million to Altiris
Thursday May 12, 5:39 pm ET
Symantec to Pay $10 Million Fee to Altiris Under Patent Litigation Settlement
SALT LAKE CITY (AP) -- Altiris Inc. and Symantec Corp. said Thursday they have amicably settled all pending patent litigation, and have siged a cross-licensing agreement that resolves all legal claims between the companies.
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Under terms of the agreement, Symantec will pay a $10 million fee to Altiris for use of the disputed patented technology in any of Symantec's products. Both companies have agreed to dismiss all claims and counterclaims with no findings or admissions of liability -- settling claims that go back to 1999.
Altiris, Symantec and PowerQuest said they will immediately dismiss all claims with prejudice, and none of the companies will have any further lawsuit-related financial obligations.
PowerQuest is the assignee of one of the patents asserted in the dispute, and is now a unit of Symantec.
Altiris provides IT asset management software, and Cupertino, Calif.-based Symantec makes content and network security software.
Altiris shares rose 29 cents to close at $18.50 on the Nasdaq, and then rose another 29 cents to $18.79 in the after-market. Symantec shares rose 5 cents to close at $18.55, and then climbed 4 cents to $18.59 in after-hours activity.
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