Business.techwhack.co- - Japanese tech giants Toshiba has finally agreed to settle an intellectual property dispute over flash memory chips with U.S. semiconductor maker Micron Technology.

The settlement would see Toshiba paying around $288 million to the company for acquiring some of Micron�s semiconductor technology patents. They would also be licensing patents previously owned by Lexar Media Inc.

Masashi Muromachi, a Toshiba executive vice president and president of Toshiba�s in-house Semiconductor Company said on this new development: �We appreciate that Micron � allowed the parties to work together to bring all outstanding litigation and claims to a full and final resolution.�

Micron Chairman Steve Appleton added: �We � have the highest respect for Toshiba as an innovator in flash technology and see no merit in continuing to pursue this litigation.�