BlackBerry and Cisco Forge Patent Cross-Licensing Pact
Jun 23, 2015, 7:27 AM by Eric M. Zeman
BlackBerry and Cisco today announced that they have signed a long-term patent cross-licensing agreement. The agreement applies to a number of products and technologies, though the companies didn't specify which ones. BlackBerry will receive royalty payments from Cisco as part of the deal, which is being kept confidential. Companies often strike patent agreements, and BlackBerry and Cisco have a history of sharing information with one another. BlackBerry also reported its first-quarter financial results today. The company said it shipped about 1.1 million smartphones during the period. During the company's call with press and analysts, CEO John S. Chen said he's pulled resources from the handset team and moved them to software and internet-of-things efforts. His goal is to make the handset team profitable, which is why the company recently reduced its headcount in that business unit. The company has added to its list of ODMs and signed agreements with Wistron and Compal Electronics, which will manufacture its phones along with Foxconn. BlackBerry posted a loss of $28 million on revenues of $658 million.
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