NEW YORK (Reuters) - Network equipment maker Cisco Systems Inc. and Apple Inc. said on Wednesday they had reached an agreement that allows both to use the “iPhone” name, after Cisco sued the iPod maker for using it for a new multimedia phone.
No further terms of the agreement were disclosed.
In a joint statement, they said both companies are free to use the “iPhone” trademark on their products throughout the world, and each side will dismiss any pending actions regarding the trademark.
In addition, Cisco and Apple will explore opportunities to work together in the areas of security, and consumer and institutional communications.
Cisco sued Apple for trademark infringement in January after Apple unveiled its long-awaited multimedia phone called the iPhone, a name claimed by the network equipment maker.
Cisco obtained the iPhone trademark in 2000 after acquiring a company called Infogear, which had previously owned the trademark and had sold devices called iPhones for several years.
Linksys, a division of Cisco, had been selling wireless products with the iPhone name since early last year, with new products added to the line in December.
Cisco shares closed down 1 percent at $27.38 on the Nasdaq, where Apple shares closed up 3.8 percent at $89.20.