Ampex Corp. announced Monday (March 21) it would license its digital still camera patents to Japan-based Olympus Corp.

The agreement permits the use of U.S. and foreign patents held by Ampex, in return for a payment of $3.0 million to settle liability for past use of its patents. Olympus will also pay to Ampex quarterly running royalties based on the sales value of digital still cameras that utilize its patents.

Ampex now licenses its camera patents to Sanyo Electric Co., Ltd.., Sony Corp., Matsushita Electric Industrial Co. Ltd., Japan Victor Company and Pentax Corp. However, the company remains entangled with Kodak Corp., having filed suit against the Rochester, N.Y., camera maker in October 2004 for alleged patent infringement.