Microsoft paying IBM $775M to settle case

July 1, 2005 at 11:49 AM

ARMONK, N.Y., July 1 (UPI) -- Microsoft Corp. of Redmond, Wash., said Friday it would pay $775 million to IBM to settle a 10-year-old antitrust dispute between the two companies.

Besides the $775 million, Microsoft agreed to extend $75 million in credit for "deployment" of Microsoft software at IBM.

The settlement resolves claims arising from an antitrust lawsuit by federal prosecutors against Microsoft.

"Over the last few years we have been focused on resolving our disputes with other companies, and today's announcement takes another significant step towards achieving that goal," said Brad Smith, Microsoft's top lawyer.

Like Us on Facebook for more stories from UPI.com  
Topics: Brad Smith
Latest Headlines
Top Stories
Google apologizes for photo app that tagged black couple as 'gorillas'
E-2D aerial refueling capability passes CDR
Norway: New reserves found in North Sea
Shell to tap new Gulf of Mexico oil
Canada awards license for LNG exports to Asia