agreed to settle its patent dispute with Objet Geometries.
Terms weren't disclosed, but Valencia, Calif.-based 3D said the settlement is "on a basis that is not material to 3D Systems." 3D Systems and Objet waived all claims for damages with respect to their pending litigation. In addition, both companies licensed various patents relating to 3-D printing to each other.
"We are very pleased that we have been able to conclude this settlement successfully," said 3D CEO Abe N. Reichental. "It enables us to concentrate our resources on developing and delivering to our customers valuable 3-D printing solutions designed to improve their bottom line while at the same time managing the spread of patented 3-D printing technology."
On Wednesday, 3D shares rose 3 cents to $20.94.