Earlier in the week the companies had filed a joint motion asking for a patent lawsuit over graphics chips to be dismissed

Broadcom, Intel and certain of their subsidiaries have been engaged in several patent lawsuits in the courts as well as in proceedings before the International Trade Commission. Under the settlement agreement, all outstanding claims and counterclaims in those actions will be dismissed with prejudice, Broadcom said. The parties also entered into reciprocal releases covering all patent claims and certain other claims. In connection with the settlement, Broadcom will pay Intel $60 million in cash in two equal installments in the third and fourth fiscal quarters of 2003.

Additionally, Broadcom and Intel entered into a separate comprehensive cross-license agreement covering patents owned or controlled by either party or its subsidiaries, and having a first effective filing date, at any time up to and including August 7, 2008.