Shares in Ericsson were up almost 5% in Monday morning trading after the company announced it had inked a global patent license agreement with Apple and that the companies had agreed to settle litigation between them.
Financial terms of the agreement were not disclosed, but Ericsson and Apple will collaborate on “multiple technology areas,” including 5G, video network traffic management and wireless network optimization, Ericsson said. As part of the seven-year agreement, Apple will make an initial payment to Ericsson and, after that, will pay on-going royalties.
Ericsson noted that the agreement also ends investigations before the U.S. International Trade Commission, lawsuits pending in the U.S. District Court for the Eastern District of Texas and the U.S. District Court for the Northern District of California, as well as lawsuits in the United Kingdom, Germany and the Netherlands.
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