Intel, Broadcom Settle Trade Secret Litigation

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Intel

(INTC) - Get Report

and

Broadcom

(BRCM)

reached a settlement in a trade-secret litigation lawsuit Intel filed earlier this year.

In a brief statement, the companies "expressed satisfaction" with the terms of agreement, which they said are confidential.

In March, chip giant Intel filed a trade secret lawsuit against Broadcom in a California court, alleging that Broadcom interviewed Intel technicians to steal trade secrets. Broadcom, which makes integrated circuits for the broadband digital transmission of voice, video and data, filed a cross-complaint against Intel in June.

Shares of Broadcom were recently up 1.5%, or $2, to $132, while shares of Intel were up 3.7%, or $1.50, to $42.63 in morning

Nasdaq

trading.