RIM Paid Nokia $65 Million Plus Ongoing Payments to Settle Patent Dispute

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We told you earlier that Nokia buried the hatchet with RIM but now we have more details on what was involved. AllThingsD found a recent RIM 6-K filing with the Securities and Exchange Commission detailing the agreement. It just says that there was a one time lump sum EURO 50m (approximately $65m US Dollars) payment along with unspecified ongoing payments. Here are the details:

“On December 21, 2012, Nokia and RIM announced that they have entered into a new patent license agreement,” RIM explained in a 6-K filing. “The agreement will result in the settlement of all patent litigation between the companies and Nokia’s dismissal of all pending actions in the United States, United Kingdom, Canada and Germany. The financial structure of the agreement includes a lump sum EUR50m (approximately $65m) one-time payment, which has been recorded in the Company’s consolidated statement of operations in the third quarter of fiscal 2013.”

I am sure RIM was not happy to pay but they need to quiet down the patent lawsuits for their upcoming launch.

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  1. $55M in $65M out. This NewBay deal has been in the works for a while.

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