Apple Pays $5 Million to Elan Microelectronics, Settles Patent Suit

After accusing Apple Inc. of infringing on two of its patents relating to multi-touch technologies, Elan Microelectronics Corp. will receive 5$ million in compensation from the Cupertino tech giant, as well as access to a number of patented inventions of the Mac maker.

In June, last year, the U.S. International Trade Commission (ITC) sided with Apple, saying that the Mac maker had not violated any U.S. trade laws.

Taiwanese news agencies are now reporting that local chip and touch screen maker, Elan Microelectronics Corp., has confirmed a settlement with Apple Inc. in their patent infringement litigation.

Apple paid $5 million to Elan to settle out of court and the two companies now have access to relevant patents from each other’s portfolio.