BURLINGTON, Mass., Oct. 30, 2017 (GLOBE NEWSWIRE) -- Avid® (Nasdaq:AVID) today announced a global patent cross-licensing agreement with Harmonic Inc. (Nasdaq:HLIT), ending its patent infringement litigation against Harmonic on a mutually acceptable basis without trial. Under the terms of the settlement, Harmonic will pay $6.0 million to Avid. The first payment of $2.5 million was made on October 24, 2017; the remaining $3.5 million will be paid in two installments of $1.5 million and $2.0 million in 2019 and 2020, respectively.
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