Research In Motion Ltd. has agreed to pay NTP Inc. $612.5 million to settle the long-running patent dispute that had threatened to disrupt its widely used BlackBerry wireless-email service.
The record payout actually sent RIM’s shares soaring 18% up $13.35 to $85.27.
Despite booming sales, RIM shares had been hurt over the past year due to concerns about the outcome of the lawsuit.
RIM have issued a statement to the effect that the settlement includes a definitive licensing agreement with NTP. This should end all litigation between the two firms.
