Research In Motion said Thursday it will pay Visto Corp. $267.5-million (U.S.) to settle all outstanding patent litigation over technology, ending a feud that has dragged on for a number of years.
Under the terms of the deal, RIM, known for its popular BlackBerry handheld device, will receive a perpetual and fully-paid license on all Visto patents and see the transfer of certain Visto intellectual property.
Most of the $267.5-million is expected to be expensed as a one-time item in the second quarter of fiscal 2010. The remainder will be classified as an intangible asset.
Both sides also agreed to drop all outstanding worldwide litigation. The two sides have been involved in lawsuits over BlackBerry technology in a number of countries.
The settlement is expected to be completed next week.
Earlier this year, RIM won a U.K patent lawsuit against Visto over its e-mail technology.