$612 Million Deal Ends BlackBerry Shut Down Threat
BlackBerry maker Research in Motion has agreed to pay $612.5 million to patent holding company NTP to settle a long-running dispute that threatened to shut down the popular wireless e-mail service. This is great news for all those CrackBerry users who thought they were going to lose their crack!
“The agreement has been finalized and NTP’s lawsuit against RIM has been dismissed by a court order,” the Canadian company said. “The settlement means no further court proceedings or decisions about damages are necessary.” RIM also issued a warning Friday, lowering its 4th-quarter revenue projections. “This is an extremely positive development for RIM. The settlement basically makes the pre-warning irrelevant,” said Peter Misek, an analyst with Canaccord Capital. “There’s a lot of pent-up demand for RIM products, and competitors have not been able to capitalize on this.”
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