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Romer Inc and Faro technologies settle their lawsuits
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Romer Inc. a unit of Sweden's Hexagon AB, and electronics company Faro Technologies Inc., said Monday they agreed to settle all lawsuits between them.
As part of the settlement, patent suits pending in California and Florida and a lawsuit involving claims of false advertising, will be dismissed, the companies said in a joint statement.
They did not give financial terms of the settlement.
Lake Mary, Fla.-based Faro makes computerized inspection devices and software used by manufacturers. Its products are used for assembly inspection and factory planning, as well as recreating accident sites and crime scenes.
Romer, a subsidiary of Hexagon's Metrology unit, makes 3D coordinate measurement systems for industrial uses.
Faro's shares closed up 61 cents, or 2.2 percent, at $27.93 on the Nasdaq Stock Market.
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