TiVo company already with cisco and Motorola Mobility (Motorola Mobility) and time warner cable billing patent disputes, avoid a trial, this is next week.
Settlement is far less than most investors had expected, however, and TiVo shares tumbled 18% in pre-market trading on Friday.
According to the agreement, TiVo will receive a one-time payment of $490 million from Google and cisco. The company will also work with cisco, Google and ARRIS group co., LTD. Signed a patent license agreement
Google company acquired in 2012, Motorola Mobility (Motorola Mobility) and Arris company to sell its set-top box unit this year.
Chief executive Tom Rogers said: "we are glad to reach an agreement, end our pending litigation, and further highlights the significant value of technology innovation of our distribution partners from TiVo,".
Alviso chipset TiVo company, headquartered in California, have charged fees for television company, said they use the patent technology of DVR. Previous negotiation about $100 million, in similar circumstances, to other companies, including Dish network company, AT&T and Verizon communications consolidation settlement of the company.
TiVo company is still trying to make money, in almost all released over the past decade annual loss.
MOTOROLA mobility and time warner cable, said they are satisfied with the deal. Cisco systems inc., officials did not immediately respond to a comment on E-mail.
As Friday's trading, TiVo's patent claims and claims about $160 million in total.
After released, TiVo, the company said its stock buyback program twice, to $20 billion, and plans to extend an additional two years.
TiVo shares fell $2.47 to $11.24 before opening.
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