Bridgestone Sports Co. and Callaway Golf Co. said Wednesday they have signed a license agreement that permits the U.S. firm to use a number of Bridgestone Sports' three-piece golf ball patents worldwide.

As a result, pending patent litigation between the two companies in the U.S. and Japan will be dismissed, they said. Terms of the license agreement were not disclosed.

"We are very pleased that Callaway Golf and Bridgestone Sports have achieved a business solution to the litigation on terms that are acceptable to both parties," Bridgestone Sports President Haruo Osuga said in a statement.

Ron Drapeau, chairman, president and chief executive officer of Callaway Golf, said, "We were able to get access to a portion of Bridgestone Sports' very extensive patent portfolio on three-piece golf balls and to resolve pending litigation between our two companies at the same time."

Callaway Golf makes and sells golf clubs, including Big Bertha metal woods and irons.