Motorola, Inc. (NYSE:MOT) and Research In Motion Limited (NASDAQ:RIM) has entered a Settlement and License agreement and ended all worldwide litigation they had against each other. Motorola and RIM now have a long-term intellectual property cross-licensing patent agreement. The patent rights related to industry standards and technologies such as 2G, 3G, 4G, 802.11, and wireless e-mail. Below is the full press release.
SCHAUMBURG, Ill. and WATERLOO, Ontario, June 11 /PRNewswire-FirstCall/ — Motorola, Inc. (NYSE: MOT) and Research In Motion Limited (Nasdaq: RIMM; TSX: RIM) have entered into a Settlement and License Agreement which ends all outstanding worldwide litigation between the two companies. Under the Agreement, Motorola and RIM will benefit from a long-term, intellectual property cross-licensing arrangement involving the parties receiving cross-licenses of various patent rights, including patent rights relating to certain industry standards and certain technologies, such as 2G, 3G, 4G, 802.11 and wireless email . In addition, the parties will transfer certain patents to each other.
The financial terms of the Agreement include an up-front payment and ongoing royalties to Motorola. Further terms and conditions of the Agreement are confidential.
Motorola is known around the world for innovation in communications and is focused on advancing the way the world connects. From broadband communications infrastructure, enterprise mobility and public safety solutions to high-definition video and mobile devices, Motorola is leading the next wave of innovations that enable people, enterprises and governments to be more connected and more mobile. Motorola (NYSE: MOT) had sales of US $22 billion in 2009. For more information, please visit www.motorola.com.
About Research In Motion
Research In Motion is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time-sensitive information including email, phone, SMS messaging, Internet and intranet-based applications. RIM technology also enables a broad array of third party developers and manufacturers to enhance their products and services with wireless connectivity. RIM’s portfolio of award-winning products, services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry® wireless platform, the RIM Wireless Handheld? product line, software development tools, radio-modems and software/hardware licensing agreements. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe and Asia Pacific. RIM is listed on the Nasdaq Stock Market (Nasdaq: RIMM) and the Toronto Stock Exchange (TSX: RIM). For more information, visit www.rim.com or www.blackberry.com.