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Omax announces settlement of patent litigation, cessation of proposed merger with Flow

May 2009 - Omax Corp. settled an outstanding patent litigation with Flow International Corp. and announced the cessation of merger negotiations with the company. In consideration for Flow's termination of the merger and the patent settlement, Omax will receive $25 million in cash and $10 million in notes maturing in four years. A cross-licensing agreement has been reached for the patents involved in the litigation.
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