Apple rival`s shares jump on settlement

SINGAPORE, Singapore (UPI) -- Shares in Singapore`s Creative Technology Ltd. soared on news that Apple Computer Co. was paying it $100 million to settle a lawsuit.
Apple said it will pay Creative the money for a 'paid-up license' to use Creative`s recently awarded patent in all Apple products. The settlement resolves a total of five lawsuits between the companies.
Apple can recoup a portion of its payment if Creative is successful in licensing this patent to others, the California company said.
In addition, the companies announced that Creative has joined Apple`s 'Made for iPod' program and will be announcing their own iPod accessory products later this year.
Creative`s share rocketed up as much as 38 percent on news of the settlement.

Copyright 2006 by United Press International