Back in August of 2016, BlackBerry announced they had initiated two patent infringement lawsuits against BLU Products, Inc. At the time, BlackBerry alleged that BLU was infringing multiple BlackBerry patents by using, without authorization, BlackBerry's proprietary technology in BLU's commercial mobile devices.

Skipping to today, BlackBerry has now announced that rather than continuing the patent litigation between the two companies, they have instead entered into a patent license agreement that includes on-going payments from BLU Products to BlackBerry. As highlighted in the press release, additional terms of the agreement are confidential, so we'll just have to wait if the payments are substantial enough to be noted on BlackBerry's bottom line.

BlackBerry and BLU Products Enter into Patent License Agreement

WATERLOO, ONTARIO and MIAMI, FLORIDA--(Oct. 12, 2017) - BlackBerry Limited (NASDAQ:BBRY)(TSX:BB) and BLU Products announced today they have entered into a patent license agreement. This will result in settlement of all existing patent litigation between the two companies and withdrawal of pending actions in the United States. The financial structure of the agreement includes on-going payments from BLU Products to BlackBerry. Additional terms of the agreement are confidential.

"We are very pleased to have reached this patent license agreement with BLU Products," said Jerald Gnuschke, senior director of Intellectual Property Licensing, BlackBerry. "The consummation of this agreement enables us to focus on further licensing opportunities in the mobile communications market."

BlackBerry's portfolio consists of approximately 40,000 worldwide patents and applications covering a wide array of technologies including wireless communications, networking infrastructure, acoustics, messaging, enterprise software, operating systems, virtualization and cybersecurity.

About BlackBerry

BlackBerry is a mobile-native security software and services company dedicated to securing the enterprise of things. Based in Waterloo, Ontario, the company was founded in 1984 and operates in North America, Europe, Asia, Middle East, Latin America and Africa. The Company trades under the ticker symbols "BB" on the Toronto Stock Exchange and "BBRY" on the NASDAQ. For more information, visit www.BlackBerry.com.

About Blu Products

BLU Products, is an American company headquartered in Miami, FL that designs and sells affordable, attractive and innovative mobile devices focusing on fulfilling the needs of the everyday person. BLU is a pioneer in the advancement of the no-contract revolution, giving consumers a choice between network providers. With distribution centers in both Miami and Hong Kong, BLU offers a vast portfolio of unlocked mobile phones to thousands of dealer agents, distributors, MVNO's, and retailers globally. With an emphasis on giving what today's mobile users need, and always launching new models, BLU successfully provides consumers what they are looking for in a mobile device at an affordable price without sacrificing fashion, design and quality. BLU continues growing at a rapid pace fueling passionate followers and fans throughout the world.