RIM Paid Nokia $65M (€50M) in Patent Deal

The transaction also included ongoing royalty payments from RIM to Nokia

Last week, Finnish mobile phone maker Nokia announced the signing of a patent agreement deal with Canadian handset vendor Research In Motion that resulted in a one-time payment from RIM and ongoing royalty payments for Nokia’s patents.

While specific info on the transaction was not disclosed, a recent filing with the Securities and Exchange Commission unveiled that RIM paid Nokia $65M (€50M) as part of the agreement. RIM recorded the transaction in its consolidated statement of operations in the third quarter of fiscal year 2013.

The deal between the two companies also resulted in “Nokia’s dismissal of all pending actions in the United States, United Kingdom, Canada and Germany,” the filing unveiled.

Unfortunately, no further details on the amount of ongoing royalty payments that RIM will make to Nokia have been provided.

Hot right now  ·  Latest news