AfterDawn: Tech news

RIM pays Nokia $65 million in first patent licensing payment

Written by Andre Yoskowitz @ 28 Dec 2012 10:50

RIM pays Nokia $65 million in first patent licensing payment

Earlier this month, RIM settled with rival Nokia over a patent dispute relating to smartphones.
The company settled with the agreement to make a "one-time" payment and then on-going payments.

We have learned today, via an SEC filing, that the one-time upfront payment was $65 million,or 50 million euro.

Reads the filing (via ATD): "On December 21, 2012, Nokia and RIM announced that they have entered into a new patent license agreement. The agreement will result in the settlement of all patent litigation between the companies and Nokia's dismissal of all pending actions in the United States, United Kingdom, Canada and Germany. The financial structure of the agreement includes a lump sum EUR50m (approximately $65m) one-time payment, which has been recorded in the Company's consolidated statement of operations in the third quarter of fiscal 2013."

While the royalties figure was not disclosed, most expect the annual payment to reach somewhere in the $40-60 million range.

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