Mitsubishi Electric Corp. said Thursday it has reached an out-of-court settlement with Sodick Co., a specialized producer of numerical control electro-dischargers, over a long-standing patent dispute.
The settlement brings closure to a 12-year-old lawsuit in which Mitsubishi accused Sodick of violating six patents related to electric discharge machines.
The settlement was concluded amid concerns that a further extension could adversely affect the machine tool trade of both firms.
Under the terms of the settlement, which was finalized at the court's behest, Sodick paid Mitsubishi an undisclosed sum.