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
SOURCE NTP Incorporated