Toshiba, Hynix Reach Settlement on NAND Patents

Toshiba and Hynix said Tuesday that they had settled their disputes over patents surrounding NAND memory chips, agreeing to cross-license each other's intellectual property surrounding the technology. Terms of the deal were not disclosed. The settlement ends a nearly three-year fight between the two companies that resulted in several suits and countersuits.

Both companies tried to halt sales of the other's products into the US, but the courts dismissed both motions. Toshiba and Hynix had a previous agreement, extending from 1996 through 2002, however disagreements over the terms of a new deal caused the two sides to part ways. The term of the new deal is unknown, with the companies only sharing that it was "long term."