AT&T has agreed to pay a sum of $215m to TiVo to settle a lawsuit over digital video.
The communications company intends to make an initial payment of $51m, with the remainder being paid through equal instalments up to June 2018.
TiVo’s chief executive Tom Rogers said people will begin to view our intellectual property value with some greater predictability. "The settlement also provides us rights to innovate TiVo products and services under license from AT&T, and allows us to avoid significant legal expenses that we expect would have been incurred by us during and after trial," added Rogers.
TiVo has been embroiled in patent lawsuits in the past, and one of those concerns the ‘time warp’ technology over which it had disputes with dish Network Corp and Ecostar Corp, and more recently in May 2011, Dish Network, EchoStar.
The parties have also agreed to have a cross license of their respective patent portfolios, agreeing to dismiss all pending litigations.
