Battle for the iPhone — Truce

We’ve been waiting for word on the iPhone battle all day, but here it is, a tiny statement delivered after hours. Cisco and Apple just put out a release that basically says the companies have reached an agreement over the iPhone trademark. The statement is scant on details, but here you go:

Under the agreement, both companies are free to use the “iPhone” trademark on their products throughout the world. Both companies acknowledge the trademark ownership rights that have been granted, and each side will dismiss any pending actions regarding the trademark. In addition, Cisco and Apple will explore opportunities for interoperability in the areas of security, and consumer and enterprise communications. Other terms of the agreement are confidential.

No mention of any kind of financial settlement. Interestingly enough, it sounds like interoperability isn’t guaranteed based on the wording of the agreement, and it just says that the companies “will explore opportunities for interoperability.” Does that mean Cisco got the short end of the stick? Though, without knowing more it’s hard to determine if this is a good deal for both companies or not.