RIM puts $613m settlement in motion
Print storyCrackBerry dealer pays NTP
Posted in Financial News, 3rd March 2006 23:34 GMT
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CrackBerry users will not have to face the pains of messaging withdrawal thanks to a $613m settlement between Research in Motion (RIM) and NTP.
RIM paid up to settle all patent infringement claims made by NTP. In addition, it has acquired a perpetual license for NTP's IP. Blackberry users everywhere will rejoice as it appeared RIM might have to shut down its messaging service as part of the ongoing dispute with NTP.
"All terms of the agreement have been finalized and the litigation against RIM has been dismissed by a court order this afternoon," RIM said in a statement. "The agreement eliminates the need for any further court proceedings or decisions relating to damages or injunctive relief."
Many pundits will no doubt say RIM got off pretty light. The company had already stashed away $450m in an account - the amount of a 2004 settlement attempt that fell apart. Now it just has to pay an extra $162.5m and has gained an ongoing license to NTP's technology.
NTP last week requested that a judge shut down RIM's BlackBerry service. The judge chided both companies for allowing this issue to drag on in the courts for so long. ®
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