Vonage Holdings Corp. on Monday said it will settle its patent dispute with Sprint Nextel Corp. by paying $80 million and licensing the technology it was found guilty of illegally using.
Vonage lost another patent infringement suit two weeks ago. The IP telephony company now says it’ll pay $35 million for past use of Sprint’s technology, $40 million for future licensing and a $5 million prepayment.
Vonage stocks were trading for $1.95 at mid-morning on Monday.
Sprint Nextel Corp. www.sprint.com
Vonage Holdings Corp. www.vonage.com
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October 16 2019 @ 18:12:06 UTC