Shares in VoIP pioneer Vonage (VG) are almost 50% higher at $1.72. The company settled it patent dispute with Sprint (S)
Vonage announced that it has settled its pending patent dispute with Sprint and entered into a licensing arrangement under Sprint’s Voice over Packet patent portfolio.
The agreement is valued at $80 million, including $35 million for past use of license, $40 million for a fully paid future license, and $5 million in prepayment for services.
And Vonage lives to fight another day.
Douglas A. McIntyre