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Message: RIM To Pay $267.5M To End Visto Patent Litigation

RIM Agrees to Pay $267 Million


Research In Motion and Visto on Thursday struck a deal to end litigation between the companies after the maker of the BlackBerry smartphone agreed to pay $267.5 million to the wireless email provider.

Waterloo, Ontario, RIM will receive a perpetual and fully paid license on all Visto patents and certain Visto intellectual property in exchange for the one-time payment of $267.5 million.

Most of the payment will be made as an unusual item in the second quarter of 2010, the Canadian company said in a statement.

Redwood City, California, Visto and RIM had been fighting for years over patent infringement. Visto claimed RIM was using its technology without a license, while RIM argued the Visto patents contain no new inventions.

In 2006, RIM paid $612.5 million to settle a patent dispute with a Virginia company.

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