M$ to Pay $60 million Settlement
Microsoft will pay Burst.com, a developer of software for streaming audio and video over the Internet, $60 million to settle a patent infringement and antitrust lawsuit, the world's largest software maker said on Friday.
Santa Rosa, California-based Burst said in a 2002 lawsuit that Microsoft had infringed on its patent for sending audio and video content over the Web, in addition making trade secret and antitrust claims against the maker of Windows.
Redmond, Washington-based Microsoft said that it will license Burst's patent portfolio as part of the settlement and "focus on the continued development and deployment of Windows Media technologies," Tom Burt, Microsoft's deputy general counsel, said in a statement.
Burst's chief executive, Richard Lang, said that the settlement validated his company's technology.
Shares in Burst rose 75 per cent to $3.15 on Friday on Nasdaq.
Microsoft has been settling outstanding antitrust claims against the company. In November, it agreed to pay Novell $536 million to settle an antitrust lawsuit.