Network video company Axis Communications has announced that the lawsuit filed by Compression Labs Inc. regarding patent infringement has been settled "on terms that are beneficial to both parties."
The lawsuit was filed during spring 2004 and pertained to an infringement regarding Axis Communications' use of patented image compression technology.
Axis' CEO Ray Mauritsson said that while the settlement's details will remain confidential, the company is welcoming the settlement "from a resources and from a financial point-of-view."