Internet shopping retailer Amazon.com Inc. and IBM Corp. have settled all of their patent infringement lawsuits and agreed to a long-term patent cross-licensing deal, the companies said on Tuesday.

Amazon.com will pay an undisclosed sum to the technology giant and both firms will share their technologies.

"At IBM, we place a high value on our IP assets and believe this agreement substantiates the value of our portfolio," Dan Cerutti, IBM's general manager of software intellectual property, said in a written statement.

"We're pleased this matter has been resolved through negotiation and licensing. We look forward to a more productive relationship with Amazon in the future."

In October 2006, IBM alleged in two lawsuits that key aspects of the Amazon.com site infringed on five patents.

Amazon.com countersued in December, refuting IBM's claims and saying that the technology firm was infringing on five of the retailer's patents.

With files from the Associated Press