BlackBerry and BLU Products Enter into Patent License Agreement

BlackBerry Limited (NASDAQ:BBRY; TSX:BB) and BLU Products have announced that they have entered into a patent license agreement.
As quoted in the press release:

This will result in settlement of all existing patent litigation between the two companies and withdrawal of pending actions in the United States. The financial structure of the agreement includes on-going payments from BLU Products to BlackBerry. Additional terms of the agreement are confidential.
“We are very pleased to have reached this patent license agreement with BLU Products,” said Jerald Gnuschke, senior director of Intellectual Property Licensing, BlackBerry. “The consummation of this agreement enables us to focus on further licensing opportunities in the mobile communications market.”
BlackBerry’s portfolio consists of approximately 40,000 worldwide patents and applications covering a wide array of technologies including wireless communications, networking infrastructure, acoustics, messaging, enterprise software, operating systems, virtualization and cybersecurity.

Click here to read the full press release.