October 11, 2007
Vonage and Sprint Settle
Vonage and Sprint settled their patent infringement case for $80 million. Vonage as found liable for around $69.5 million within a few days of an appellate court upholding another patent verdict against it in favor of Verizon. The settlement breaks down to $35 million for the past use of the patents, $40 million for future use, and $5 million for "prepayment of services," whatever that means.
Sprint can use the cash given the turmoil over its planned WiMax network. The effort to build the wireless Internet network is costing more money than the investors can handle. Sprint's CEO Gary Forsee resigned due to investor pressure. Google is slated to provide mobile search services for Sprint's WiMax, should it ever come to fruition.
October 11, 2007 | Permalink
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