TI, Samsung Enter 10-Year Chip Accord

Texas Instruments Inc. and Samsung Electronics Co. of South Korea signed a 10-year cross-licensing agreement for semiconductor patents, after nearly a year of wrangling over terms. The accord settles all pending litigation between the chip makers. Dallas-based Texas Instruments will receive about $105 million in past-due royalties in the fourth quarter and is expected to earn nearly $1 billion in royalties throughout the agreement. TI shares surged $4.375 to $60.875 on the New York Stock Exchange. TI and Samsung sued each other over patents for the design of computer memory chips after a five-year agreement expired at the end of last year. The new pact also covers personal computers, consumer products and telecommunications equipment.