Apple, Qualcomm Reach Courthouse-Steps Settlement to End Suits (3)

Apple Inc. and Qualcomm Inc. agreed to end a two-year legal battle over billions of dollars of technology licensing fees that had threatened to jeopardize the chipmaker’s most profitable line of business. Qualcomm’s shares jumped 23 percent on the announcement.

Apple will make a one-time payment to Qualcomm, and the two reached a multiyear agreement whereby Qualcomm will supply chips and license its technology to Apple in exchange for royalty payments, the companies said Tuesday in a statement. The companies said their litigation around the world will be dismissed, but didn’t disclose details of the payments or fees.

The ...