Time Computers said it has "drawn a line" under a reported £13m lawsuit which alleged that IBM UK had supplied it with faulty computer components.
The lawsuit was due to start in the High Court yesterday, but last-ditch talks between both firms' lawyers appear to have resulted in a settlement. However, both sides are refusing to give details or even confirm whether a settlement has been reached.
A spokesman for IBM UK said: "This is a situation that IBM does not wish to comment on at present." While a Time spokesman would only comment: "Time is happy to have drawn a line under this episode."
Set up in 1987, Time has grown from a mail-order operation run from a corner shop flat to a business that sells some 400,000 computers a year, which it assembles from components supplied from manufacturers such as IBM.
Time now sells direct and through 180 retail outlets, employs more than 2000 staff and expects revenue to top £300m this year.
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