Printronix Enters Pact With Hewlett-Packard

Printronix Inc. of Irvine announced Wednesday that it has reached a “friendly” agreement with Hewlett-Packard Co. of Palo Alto that permits each company to use the other’s patented technology for impact line printers.

According to David Radlinski, Printronix’ chief financial officer, the two companies reached the agreement following lengthy discussions on the similarity of their respective patented technology. No lawsuit was filed or threatened, Radlinski said.

However, the company said the agreement calls for Hewlett-Packard to pay Printronix an undisclosed sum for any past use of its patents. Radlinski described the settlement as “a goodly amount, not token.”