US chip maker Intel on Monday announced it would pay graphics card developer NVIDIA $1.5 billion over the next five years to settle a patent dispute.

The companies have been arguing for nearly two years about whether a deal they inked allows NVIDIA to produce chipsets that work with Intel microprocessors.

Intel filed a complaint in court in February 2009, asking a judge to decide which side is right.

NVIDIA counter-sued a month later.

"This agreement ends the legal dispute between the companies, preserves patent peace and provides protections that allow for continued freedom in product design," Doug Melamed, Intel general counsel, said in a statement.

Intel will be allowed to use some of NVIDIA's patents under the deal.

earlier related report
Groupon raises $950 mn in new funding
Washington (AFP) Jan 10, 2011 - Internet bargain coupon phenomenon Groupon said Monday it had raised $950 million in the past month to invest in technology, fund its global expansion and compensate company employees and early investors.

The two-year-old company said it had raised the money from venture capital firms and "late stage investors" including Andreessen Horowitz, Battery Ventures, Greylock Partners and Kleiner Perkins Caufield & Byers.

The $950 million included the $500 million the company announced it had raised on December 30, two weeks after launching a major fundraising effort.

The Chicago-based startup company, which offers subscribers online coupons for discounts on a broad range of consumer goods and services, had earlier rejected a reported $5 billion takeover offer from Internet giant Google.

In a statement Monday Groupon said its subscribers had grown to 50 million from just two million at the beginning of 2010.