IBM today announced it has reached agreement to resolve the patent lawsuit between IBM and The Priceline Group pending in the United States District Court for Delaware. As part of the confidential settlement, the parties will obtain patent cross-licenses to each company's worldwide patent portfolio.

"IBM takes pride in its reputation and track record for innovation. This agreement further demonstrates the value of our intellectual property that results from this innovation," said Dr. William Lafontaine, general manager of Intellectual Property for IBM. "We are pleased this matter has been resolved through negotiation and licensing."