Broadcom had originally sued Qualcomm for patents related to the wireless standard known as Bluetooth in California district court, and before the ITC, in May 2005. Qualcomm counterclaimed in July 2005. The two were heading to court for a trial beginning March 5.

The smoke hasn't entirely settled. Qualcomm and Broadcom only pitched two each; there are more outstanding: 3 for Qualcomm, 2 left of Broadcom. The numerous claims had been split into five separate jury trials slated throughout 2007. The agreement nixes one of those trials.

In another case, Broadcom still has a dozen patent eggs being tossed at Qualcomm, while Qualcomm has its own six-pack of patent dynamite for Broadcom.

In January, a jury found Qualcomm's asserted video compression patents valid, but Broadcom skirted infringement. Earlier this month, Broadcom gave an indemnity from Qualcomm assertion to Samsung and Panasonic for using Broadcom chips.

The ITC has a hearing mid March on Broadcom's allegations of three power-saving patents allegedly infringed by Qualcomm, with a decision expected on May 8.

Qualcomm, a patent powerhouse for its size, has 1,900 U.S. patents. Qualcomm is best known for developing the wireless standard CDMA (code division multiple access).

The news sparked stock market punters to lift Qualcomm shares a smidgen, and ease Broadcom shares a hair.