Cisco and Google will pay $490 million into...
Cisco and Google will pay $490 million into escrow by early August to fund a settlement with TiVo that includes patent cross-licensing agreements among the companies, TiVo said in an SEC filing (http://bit.ly/1bDhhES). Cisco will pay TiVo $296 million, Google…
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the remaining $196 million, the companies have said. TiVo will recognize a portion of the payment in the quarter ending July 31, TiVo said. Google’s ties to the patent infringement case stem from its acquisition of Motorola’s set-top box business, which has since been sold to Arris. Four of the TiVo licenses granted Cisco and Google under the settlement agreement are perpetual, TiVo said. Others expire July 31, 2018, for Google and July 2, 2023, for Cisco, TiVo said. The companies have agreed to provide each other with releases from patent infringement claims and not allege any infringement against each other’s products until July 18, 2018, TiVo said. TiVo also is granting Arris a license and releasing it from any claims, it said. The licenses also extend to Time Warner Cable, which was a defendant in the suit since Motorola is one of its set-top box suppliers.