Today Vonage announced that it has settled its pending patent dispute with Sprint Communications LP and entered into a licensing arrangement under Sprint's Voice over Packet ("VOP") patent portfolio.
Vonage and Sprint have entered into an agreement to resolve this patent dispute as well as begining a business relationship. In addition, Sprint has agreed to license Vonage its VOP portfolio. The agreement is valued at $80 million, including $35 million for past use of license, $40 million for a fully paid future license, and $5 million in prepayment for services. On September 25, 2007, a Kansas jury handed down a verdict finding that Vonage had infringed six Sprint patents.
This is great news for all Vonage customers. Looks like our phone lines will keep on working. The heavily beaten Vonage stock already rose by 44% today.
Via the Vonage site.
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