Teledyne, Honeywell Settle Dispute

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A day after shares in Teledyne Technologies Inc. surged 19 percent thanks to stellar earnings, the aerospace company said Thursday that it settled a patent-infringement lawsuit with Honeywell International Inc.


No financial terms of the settlement were released.


The dispute centered on technology both companies own that is used to collect and transfer aircraft data. The settlement, which was dated April 22, has Thousand Oaks-based Teledyne and Morris Township, N.J.-based Honeywell licensing each others’ technologies in order to drop the respective patent suits.


Teledyne sued in October 2006 claiming Honeywell stole technology that gathers flight information from airplanes after landing and transmits it wirelessly.


Honeywell expressed interest in the system, tested it, then canceled an agreement and developed a similar product, Teledyne said in the complaint filed in Los Angeles federal court.


Shares in Teledyne were down 1.3 percent to $56.32 in early trading Thursday.

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