10/06/2014 01:03 EDT | Updated 12/06/2014 05:59 EST

Alfresco Software settles lawsuit and agrees to license OpenText patents

WATERLOO, Ont. - Business software company OpenText (TSX:OTC) said Monday that Alfresco Software Ltd. has agreed to settle a patent lawsuit and license the patents in the dispute.

Terms of the agreement were not disclosed.

The Ontario-based company had filed a patent infringement suit against Alfresco in the U.S. District Court for the Northern District of California in June 2013.

Gordon Davies, OpenText's chief legal officer, said the company was pleased with the settlement.

"This result is further evidence of our ongoing efforts to vigorously protect our intellectual property rights and business interests," Davies said in a statement.