RIM pays $267.5 million to Visto for patent settlement
by The PocketBerry Team
More patent drama continues with RIM as Visto has went ahead with arms wide open collecting a shiny stack of $267.5 million for licenses on all Visto patents. Visto, based in Redwood, Ca., is the parent company of Good Technology, which develops and sells mobile access technology for email and other applications, crucial to BlackBerry technology.
The majority of the money used in this settlement will be put as an “unusual item” in its financial 2nd quarter period, while some will be classified in the books as an “intangible asset,” said TGDaily.
RIM added that the settlement will be finished sometime during next week or so, depending on certain conditions which they did not disclose any information for, because the agreement is to be very confidential.
Source: TGDaily
-by Mac Jadalhack
