Blackberry maker Research in Motion has settled a court settlement over its handheld email device with a company that deals only in Patents so it can continue to sell the unit in the US.
The US$450m payout came after a US appeals court upheld the case brought against them from NTP that over the past three years the company had infringed on a number of patents.
"NTP will grant RIM and its customers an unfettered right to continue its Blackberry-related wireless business without further interference from NTP," RIM said in a statement.
The payout is based on past missed royalties and not any future earnings Blackberry makes.
The dispute, which has been raging on for over three years has obviously taken its toll on RIM share value. With today's announcement, shares in RIM were trading up 18.9% at $79.80 at the time of writing this article.