Software giant Microsoft said Tuesday it will take $714 million from its third quarter to resolve antitrust dispute with computer maker Gateway and other companies.
Gateway praised Microsoft for the move. "Gateway continues to enjoy a strong relationship with Microsoft and we’re pleased to put these legacy legal issues behind us," said Wayne Inouye, Gateway’s president and CEO, in a statement. Gateway also added that the funds will be used for marketing, research and development.
Microsoft also said it is a fair decision to wind up the long-lasting dispute between the two companies.
Computer giant Microsoft agreed to pay as much as $150 million to Irvine, Calif.-based Gateway to settle the dispute that lasted some four years. It will also pay some $41 million for a separate settlement with Burst.com Inc.