Intel and Advanced Micro Devices (AMD) announced that all antitrust litigation and patent cross-license disputes between the companies are settled. Under terms of deal, Intel’ll pay AMD $1.25 billion, and has agreed to a set of business practice provisions. AMD and Intel also said they’ve agreed to a new five-year cross-license agreement, and have given up claims of breach of contract from previous license agreement. “While relationship between two companies has been difficult in past, this agreement ends legal disputes and enables companies to focus all of our efforts on product innovation and development,” companies said in a statement. The settlement is a “transparent and public agreement to create a level playing field in x86 processor industry,” AMD CEO Dirk Meyer said during a conference call.