NEW YORK (AP) -- Memory chip designer Rambus Inc. said Tuesday it resolved a decade-old patent dispute with South Korean chipmaker Hynix, and said Hynix will pay it $240 million over the next five years.
Rambus said SK Hynix is licensing memory-related patents and the right to certain dynamic random access memory products. In return for the DRAM product license it will pay Rambus $12 million per quarter for the next five years. Rambus and Hynix said they have resolved all outstanding legal claims between them. Other terms of the settlement were not disclosed.
The case has been going on since 2000. In September, a federal judge in California ruled that Rambus patents at issue in the case are valid and Hynix should pay royalties for past infringement.
Shares of the Sunnyvale, Calif., company advanced 62 cents, or 8 percent, to $8.65 in aftermarket trading following the announcement.