Here's the full text of NTP's press release issued this evening about the patent infringement settlement with BlackBerry-maker Research In Motion:
NTP Incorporated and Research In Motion (RIM) (Nasdaq: RIMM; TSX: RIM) today announced that both parties have entered into a settlement agreement and a license which will end the patent litigation currently pending in the United States District Court for the Eastern District of Virginia.
Under the terms of the settlement, RIM will make a one-time payment to NTP of $612.5 million. In return NTP has granted RIM a license which will enable RIM to continue its BlackBerry-related wireless business.
Donald E. Stout, NTP's co-founder (shown at right) said, "We are pleased to have reached an amicable settlement with RIM. We believe that the settlement is in the best interests of all parties, including the US Government and all other BlackBerry users in the United States. We remain grateful to the U.S. District Court for the Eastern District of Virginia for its time and consideration. NTP is pleased that the issue has been resolved and looks forward to enhancing its businesses."
