Research In Motion Ltd. said on Friday it will receive a lump-sum settlement and royalties from privately held Good Technology as part of a deal that will see the firms dismiss pending lawsuits.
Terms of the agreement were not disclosed and a spokesperson for Sunnyvale, California-based Good Technology was not immediately available for comment.
Waterloo, Ontario-based Research In Motion, whose BlackBerry wireless devices are popular among mobile workers, said it will get a lump sum settlement during the first quarter of fiscal 2005 as well as ongoing quarterly royalties.
Both companies have sued each other for patent infringement, as each provide systems that let users stay in touch with corporate data using handheld devices and so-called "smartphones."
Research In Motion in January posted strong quarterly earnings and boosted its financial forecasts. The company on said last month it had finally reached 1 million subscribers.
