Research In Motion Limited (NASDAQ: RIMM) is surging on news that it has signed a patent licensing agreement with Microsoft Corporation (NASDAQ: MSFT), giving RIM a broad access to extended file allocation tables for certain Blackberry devices.
More details to follow as the news is disseminated…
RIM shares are trading higher by about 3% to $7.47. The reaction would likely be better if the patent license was the other way around.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
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