Business
RIM, Visto settle patent suit
Research and Motion and Visto said Thursday that they have settled all outstanding patent lawsuits for $267.5 million.
Research and Motion and Visto said Thursday that they have settled all outstanding patent lawsuits for $267.5 million.
Under the agreement (statement), RIM gets a perpetual license on all Visto patents and intellectual property. Visto gets a one-time payment of $267.5 million.
The deal is expected to close July 20. RIM said it will be a charge against its fiscal second quarter earnings. Visto is the parent company of Good Technology.