Ericsson settled a legal battle with patent licensing business Intellectual Ventures and, while stating terms are confidential, it noted the agreement would have a negative impact on the numbers in its Networks business in the current quarter.
In a statement, the equipment vendor said Intellectual Ventures had filed a number of patent infringement lawsuits against it and its customers in the US and Europe since 2012, seeking injunctions and monetary damages.
Earlier this year, Intellectual Ventures picked up a $43 million win in a lawsuit, which is among the actions settled by the new licensing deal. This case also saw T-Mobile US named.
Intellectual Ventures was established in 2000 by Nathan Myhrvold, a former strategist and CTO at Microsoft. It said it “invested billions of dollars in building a portfolio of tens of thousands of IP assets in dozens of technology areas”.Subscribe to our daily newsletter Back