RIM Pays $450 Million To Settle Lawsuit With NTP


RIM has agreed to pay NTP $450 million to NTP to settle a patent suit against them. The terms of the agreement are NTP will grant RIM and its customers the right to continue its BlackBerry-related wireless business without further interference from NTP or its patents. This ends the 3-year legal battle which its own twist and turns. In 2003 NTP was awarded $54 million and 8.6 percent of Blackberry sales in the US. RIM appealed the case stating that most of its technology is based in Canada thus not violating any patent laws. RIM 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.