Powertec and Scivest agreed to drop their suits.

The two companies had sued each other over the amount that Chatsworth-based Powertec was supposed to pay for most of the assets of Scivest’s predecessor, Semiconductor Circuits of Windham, N.H. Scivest claimed that Powertec had agreed to pay more than the $3.5 million it provided, and Powertec said Scivest overstated the value of the assets. Powertec reported that Scivest agreed to refund $405,000 and relinquish its future share of Semiconductor Circuits’ earnings.