In a rather quick and straight to the point press release, BlackBerry has now announced they have entered into a patent license agreement with Timex Group. The agreement includes on-going royalty payments from Timex to BlackBerry but other terms of the agreement have been kept confidential.
"This license agreement with Timex demonstrates the strength of BlackBerry's patent portfolio, and will enable us to focus on further patent licensing opportunities in the mobile communications market," said Jerald Gnuschke, senior director of Intellectual Property Licensing, BlackBerry.
With the agreement being kept confidential, it's hard to say how much of an effect it will have on BlackBerry's balance sheet and unlike other license agreements BlackBerry has been signing, there's no mention what this patent is for.
To keep you guessing, BlackBerry notes they have 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.
BlackBerry and Timex Group Enter Patent License Agreement
WATERLOO, ONTARIO and MIDDLEBURY, CONNECTICUT--(Marketwired - Sept. 13, 2017) - BlackBerry Limited (NASDAQ:BBRY)(TSX:BB) and Timex Group announced today they have entered into a patent license agreement. The financial structure of the deal includes on-going royalty payments from Timex to BlackBerry. Additional terms of the agreement are confidential.
"This license agreement with Timex demonstrates the strength of BlackBerry's patent portfolio, and will enable us to focus on further patent licensing opportunities in the mobile communications market," said Jerald Gnuschke, senior director of Intellectual Property Licensing, BlackBerry.
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 Timex Group
Timex Group designs, manufactures and markets innovative timepieces around the world. Founded in 1854, Timex Group is a privately held company headquartered in Middlebury, Connecticut with multiple operating units and over 3,000 employees worldwide. As one of the largest watchmakers in the world, Timex Group companies produce watches under a number of well-known brands, including Timex, Guess, GC, Versace, Versus, Salvatore Ferragamo, and Nautica. Launched in 1950, Timex sells millions of watches each year worldwide. www.timexgroup.com
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