Microsoft Corp said on Wednesday it reached a patent agreement with rival Inc, settling a recent flurry of lawsuits between the two software companies.

In May, Microsoft sued Salesforce -- which specializes in sales software sold and used online -- charging it with stealing its intellectual property. Salesforce countersued in June, accusing Microsoft of infringing its patents.

The details of the agreement were not disclosed, but the companies will be able to use technology protected by the other's patents. Microsoft said Salesforce is compensating it.

(Reporting by Bill Rigby. Editing by Robert MacMillan)