The Canadian multinational BlackBerry (BB) has officially resolved their patent dispute with California-based tech giant Facebook (FB) in a confidential agreement. As a reaction, shares of Blackberry jumped more than 13% today and also Facebook is in the green.
In 2018, Mark Zuckerberg’s conglomerate was sued by BlackBerry due to the infringement of patent rights. In particular WhatsApp and Instagram have allegedly violated their competitors patent rights in their messenger applications. Facebook has then challenged the allegations and turned tables by suing BlackBerry for patent infringements on voice messaging technology.
This dispute settlement alleviates tensions between the companies and especially BlackBerry, who had difficulties making a buck with patent royalties in the past, seems to benefit from these news. Just earlier this month it sold about 90 patent rights to Huawei.