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Sprint, Vonage Strike $80 Million Patent Deal -

In: broadbandreports.com|Site Feeds|VoIP

9 Oct 2007

A federal jury recently ruled that Vonage infringed on six of Sprint’s patents, and ordered the VoIP operator to pay $69.5 million in damages and 5% of all future revenue. Vonage says they’ve settled their patent dispute with Sprint for a cool $80 million. According to the company, that total includes $35 million for past use of Sprint’s patents, $40 million for a “fully paid future license” and $5 million in “repayment for services.”

“We are pleased to resolve our dispute with Sprint and enter into a productive future relationship,” said Sharon O’Leary, General Counsel for Vonage. “We believe this deal is good news for Vonage, our customers and our shareholders. It allows us to put this litigation behind us and continue to focus on our core business by removing the uncertainty of legal reviews and long term court action.”

Of course, there’s still some outstanding litigation with Verizon to attend to. Vonage shares jumped 40% on the news of the Sprint settlement this morning.
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