Vonage Settles With Sprint

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.

Vonage Holdings Corp.

Leave a comment

Your email address will not be published. Required fields are marked *

The ID is: 76390