- Vringo (VRNG -0.3%) has settled its long-running, multi-continent, patent dispute with Chinese IT/telecom equipment giant ZTE (OTCPK:ZTCOY). ZTE will make a $21.5M lump sum payment within 15 days of the settlement, and also be "responsible for the payment of any withholding, value added or other taxes." ZTE will get a non-exclusive, perpetual, license to "certain" Vringo patents and patent applications.
- For reference, Vringo's current market cap is $36M. Shares are nearly flat after coming off a halt.
- Prior Vringo/ZTE coverage
- Update (1:54PM ET): Vringo is now up 5.9%.
- Update 2 (5:44PM ET): Vringo closed down 10.6%.