WASHINGTON, March 3 /PRNewswire/ -- 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, 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."
The license covers all the current NTP patents involved in the litigation as well as any future NTP patents. All of RIM's past and future products, services and technologies will be covered as well as all RIM customers and providers of RIM products and services, including wireless carriers, distributors, suppliers and ISV partners. RIM will have the right to grant sublicenses under the NTP patents to anyone for products or services that interface, interact or combine with RIM's products, services or infrastructure. The agreement permits RIM and its partners to sell its products, services and infrastructure completely free and clear of any claim by NTP, including any claims that NTP may have against wireless carriers, ISV partners or against third party products that use RIM's BlackBerry Connect / BlackBerry Built-In technology.
Wiley Rein & Fielding LLP and Hunton & Williams LLP are serving as legal counsel to NTP, and Citigroup Global Markets Inc. is serving as financial advisor to NTP.
About NTP Incorporated
NTP Incorporated is an intellectual property firm based in McLean, VA. The privately-held firm holds numerous patents and was co-founded in 1992 by the late inventor Thomas Campana, Jr. and attorney Donald Stout. Mr Campana was a veteran of the United States Air Force, ran a private engineering services firm and was awarded over 50 patents. Among NTP's library of patents are those pertaining to technologies involving wireless email which Mr Campana developed as lead inventor in 1990. In addition to its agreement with RIM, NTP has existing license agreements with Good Technology, Inc., Nokia, and Visto Corporation.
NTP Incorporated Contacts:
Eric Brielmann / Joele Frank
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
