Samsung no longer has to fear a patent infringement suit from TiVo: The DVR pioneer — recently bought by Rovi, which changed its name — announced today a “broad intellectual property license” with Samsung that includes a stay of their litigation “upon satisfaction of certain conditions.”
The terms give Samsung the right to use TiVo patents in mobile, consumer electronics and set-top box products.
TiVo sued Samsung in Texas a little more than a year ago, saying that the electronics giant’s DVRs violated four of its patents.
The new agreement “demonstrates the ongoing relevance of our intellectual property well into the future, as well as in key markets such as mobile. TiVo CEO Tom Carson says, “The arrangement also exemplifies the synergistic opportunities created by Rovi’s acquisition of TiVo to deliver significant value to our customers.”
He added, in a statement to investors, that the agreement “highlights our preference for commercially reasonable deals over on-going litigation.”
Along with the Samsung agreement, TiVo says it renewed its license deal with Dish Network which the company says shows the “long-term value and relevance of our intellectual property portfolios for both traditional and next-generation pay-TV service providers.”
TiVo shares are up nearly 5% in post market trading after it released the announcements as well as its Q3 earnings. Helped by an $83.4 million tax benefit, the company saw $49.9 million in net income, up from an $18.5 million loss in the period last year, on revenues of $153.1 million, up 33.3%. That beat the $105.9 million in revenues that analysts expected.