Microsoft Corp. will pay $60 million for violating a patent held by a division of SPX Corp., a Charlotte, North Carolina-based manufacturing and technology company, SPX said in a statement released on Wednesday.
On Nov. 14, a jury awarded SPX's Imagexpo LLC subsidiary $62.3 million in damages, after finding that Microsoft had willfully infringed a technology patent held by Imagexpo.
Microsoft infringed on the patent with the Whiteboard feature of its NetMeeting conferencing software, SPX said.
After the November ruling, it was unclear whether Microsoft, which denied any patent infringement had occurred, would appeal the jury's decision, but Wednesday's settlement appears to resolve the matter.
Microsoft, based in Redmond, Washington, will pay the $60 million by Dec. 30, SBX said.
Neither SBX nor Microsoft could be reached for comment.
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