TiVo's Latest DVR Patent Settlements Worth $490 Million
Google's Motorola Mobility division, Cisco and Time Warner Cable agree to licensing deals with the company.
TiVo will be earning a nice chunk of change after settling patent disputes with Google's Motorola Mobility division, Cisco and Time Warner Cable.
As part of a multiparty deal to resolve litigation, TiVo will be getting $490 million. As part of the agreement, the companies have entered into a patent-licensing arrangement with the DVR pioneer.
TiVo has aggressively protected its rights over technology and has previously settled cases with AT&T, Dish and Verizon. Collectively, TiVo has extracted $1.6 billion in settlement money.
The lawsuit against Motorola Mobility was launched before Google acquired the company for $12.4 billion in 2012.
"We are pleased to reach an agreement that brings our pending litigation to an end and further underscores the significant value our distribution partners derive from TiVo’s technological innovations,” said CEO Tom Rogers in a statement. “Further, this settlement significantly enhances our already strong balance sheet, bringing our cash position to over $1 billion before inclusion of future expected payments of at least $400 million from prior settlements.”