The Nautique Boat Co. will pay for past use and for a royalty-bearing license for future use of Malibu Boat’s wakesurfing technology.
Malibu Boats settled the patent-infringement case it brought against Nautique in U.S. District Court for the Eastern District of Tennessee.
It includes payment for past use and a royalty-bearing license to Nautique under key portions of Malibu's patent portfolio related to wakesurfing technologies.
Terms of the agreement remain undisclosed.
"We are pleased to conclude the litigation between our companies in a manner that respects Malibu's patents," Malibu CEO Jack Springer said in a statement.
"As Malibu continues to innovate and to build its patent portfolio, it is gratifying for us to reach a settlement with Nautique that recognizes the value of our patents and helps us to determine if others are infringing Malibu's IP,” he said.