The company that produced Kazaa for sharing music and other files online has agreed to pay more than $115 million to the entertainment industry to settle piracy lawsuits.

Sharman Networks also promised to "use all reasonable means" to discourage online piracy and work to ensure its Kazaa software isn't used to distribute copyrighted music and movies, reports the Associated Press, citing anonymous sources privy to the agreement, some elements of which are not to be made public. Sharman has apparently already paid most of the money.

Sharman Networks has indicated it will negotiate licenses with entertainment companies to distribute music and movies lawfully over its Kazaa service, similar to iTunes. The chief executive of Sharman Networks, Nikki Hemming, is quoted as saying the settlement "marks the dawn of a new age of cooperation" between file-sharing services and the entertainment industry.

The Supreme Court ruled last year that piracy lawsuits can be filed against providers of technology used to illegally trade music online. Earlier this month, a federal court judge said evidence was "overwhelming" against Streamcast, which runs the file-sharing network Morpheus.