Monday, October 08, 2007

Vonage, Sprint Settle Patent Dispute -

VG is up ~47% for the day so far, but that's small comfort to any customers/investors who got in on the "friends and family" initial offering at $17  -- the stock is now trading at $1.69... 

Vonage Holdings Corp. settled its patent dispute with Sprint Nextel Corp., agreeing to pay $80 million to license Sprint's Internet-calling technology.

Last month, a federal jury in Kansas handed down a verdict finding Vonage had infringed six Spring patents related to voice over Internet protocol technology, which allows phone calls to be handled over Internet connections.

The deal includes a $35 million payment for past use, $40 million for future use and a $5 million prepayment for services.

Vonage, Sprint Settle Patent Dispute -

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