Microsoft

(MSFT) - Get Report

struck a deal Friday to resolve antitrust claims with

IBM

(IBM) - Get Report

, agreeing to pay the technology pioneer $775 million to cover discriminatory pricing and overcharge allegations dating to the 1990s.

The settlement is the latest in a string of agreements reached by Microsoft to pay for damages done by its near-monopoly on the software used to run personal computers. Those included claims of harm to IBM's OS/2 operating system and Smart Suite applications.

Microsoft will pay IBM $775 million and extend $75 million in credit toward deployment of Microsoft software at IBM.

Left unresolved are claims Microsoft damaged IBM's server hardware and server software businesses. IBM agreed not to assert claims for server monetary damages for two years and will not seek to recover damages on claims incurred prior to June 30, 2002. Microsoft also released antitrust claims against IBM.

Shares of Microsoft rose 7 cents, or 0.3%, to $24.91 Friday. IBM added 47 cents, or 0.6%, to $74.67.