On Friday, Research In Motion Ltd (RIM) agreed to pay NTP, Inc. $612.5 million in settlement, thereby preventing a court-ordered shutdown. When the announcement was made RIM’s shares rose by 19%.
The deal allows the wireless email service to stay in operation and continue to develop new products. After both parties signed the agreement the U.S. court dismissed NTP’s litigation, ending a court battle that has lasted for more than four years. NTP had taken RIM to court over U.S. patent violations and the courts found RIM at fault. This settlement puts to rest this long legal battle.
For users of the BlackBerry service this was welcome news. BlackBerry is the communications device of choice for politicians, Wall Street traders, corporate CEO’s and company executives all across the United States and world.
