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VNHFC will initially become a wholly-owned subsidiary of WLN.
The merged entity will retain the Artistex name.
Neither company will be required to pay the other a termination fee as a result of their mutual decision.
James said her efforts yielded "commitments from T-Mobile to create jobs in Rochester."
James and Tong stated they would consider mounting an appeal to the court's ruling.
Xerox CEO John Visentin said the settlement will "also unlock significant unrealized value for our shareholders."
Steve Senneff of Rememdy Health will be president and chief financial officer of the merged company.
"This partnership of two mission-driven schools embodies a remarkable complementarity," said Kevin Quigley, president of Marlboro College.
The attorneys genera insist that a merger would result in increased prices on cellphone services while diminishing the competition in that sector.
Brandon Steiner was able to build his company as a result of numerous personal contacts he had made in the professional and college sports arenas.
DSS CEO Craig Stevenson Jr. said the merger creates "one of the largest, highest quality fleets and best capitalized public shipping companies in the market."