SanDisk and Ritek settle suit, sign licensing deal

SanDisk has settled its lawsuit against Taiwanese Ritek, and will now get a slice of its earnings under a coss-licensing agreement.

NEW YORK - Flash memory maker SanDisk Corp. on Friday said it settled its patent litigation against Ritek Corp. and signed a royalty-bearing cross-license agreement with the Taiwanese manufacturer.

The companies said the agreement makes Ritek the first Taiwanese manufacturer of flash cards, USB flash drives and storage systems that is licensed by SanDisk.

SanDisk said the license and royalty terms of the agreement and settlement are confidential.

- REUTERS