Wednesday, March 16, 2005

RIM settles with NTP over BlackBerry technology

from AP on March 16, 2005:

Research In Motion Ltd., the Canadian maker of BlackBerry wireless e-mail devices, said on Wednesday, March 16, that it will pay $450 million to resolve litigation with NTP Inc., a Virginia company which said the devices infringed on in its patents.

Under terms of the agreement, NTP will grant the company and its customers the right to continue its BlackBerry-related wireless business without further interference from NTP or its patents.

On Wednesday, Research In Motion said the settlement fee relates primarily to past damages, and includes the $137 million judgment currently held in escrow. The company said it expects to expense most of the remaining $313 million in the fourth quarter ended Feb. 26.

NTP and Research In Motion plan to finalize the terms of this agreement in upcoming weeks.

The company said further comment and details will not be disclosed until the company's fourth-quarter conference call on April 5.


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