Research In Motion Ltd. said it will pay NTP Inc. $450 million to settle a patent infringement lawsuit.
RIM’s shares were up nearly 18 percent on the news to $79.13 per share.
RIM, which manufactures BlackBerry wireless e-mail products, said the agreement gives it 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.
NTP and RIM will finalize the terms of this resolution in a definitive licensing and settlement agreement in upcoming weeks, according to a RIM press release.
A federal appeals court in December affirmed 11 of NTP’s 16 claims against RIM, but sent back the remaining five claims to a Virginia district court for further consideration.
Just last week, RIM rival Good Technology Inc. licensed several NTP patents.
