Research In Motion and NTP settle

Mar 16 2005 - 01:14 PM ET | Research In Motion
Research In Motion and NTP have agreed to a settlement in NTP's patent infringement case against RIM. A recent ruling tilted in NTP's favor, which likely spurred another round of settlement talks. RIM will pay US$450 million to NTP in final and full settlement of all claims to date against RIM, as well as for a perpetual, fully-paid up license going forward. bq. As part of the resolution, NTP will grant RIM and its customers an unfettered right to continue its BlackBerry-related wireless business without further interference from NTP or its patents. NTP and RIM will be finalizing the terms of this resolution in a definitive licensing and settlement agreement in upcoming weeks. Shares of RIM [RIMM] surged nearly 20% on the news. [via BlackBerry Cool]