The agreement tentatively "resolved all the issues between the two companies," said Microsoft spokeswoman Stacy Drake.
Microsoft and Burst.com said they agreed to settle Burst’s lawsuit that accused Microsoft of stealing its technology for high-speed Internet broadcasting of sound and video.
Burst, a Santa Rosa, Calif.-based software provider, accused Microsoft of patent infringement, antitrust violations and destroying e-mail evidence in the case.
News of the settlement pushed Burst shares up $1.59, or 88 percent, to $3.39, in heavy over-the-counter trading yesterday. Microsoft stock climbed 12 cents to $25.43.
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The agreement tentatively “resolved all the issues between the two companies,” said Microsoft spokeswoman Stacy Drake.
Burst Vice President Eric Walters said the company “reached agreement in principle” on the lawsuit. Both refused to give details of the settlement, saying it hadn’t been completed.
Burst filed the lawsuit in 2002, claiming that Microsoft took its “technology and our business opportunities.” U.S. District Judge J. Frederick Motz in Baltimore hadn’t set a trial date.
Last year, Microsoft settled another antitrust claim by paying $536 million to Novell, a Waltham, Mass.-based seller of network software and consulting services.