DOW JONES NEWSWIRES
TiVo Inc. (TIVO) and Microsoft Corp. (MSFT) reached an agreement under which both companies will dismiss pending litigation over patents.
No patent rights were granted to Microsoft by TiVo, the digital-video-recorder company said in a regulatory filing.
Early last year, Microsoft filed a lawsuit in Washington, alleging infringement of four patents, and simultaneously filed a complaint with the U.S. International Trade Commission. Meanwhile TiVo has filed a slew of patent-infringement suits over its digital-video-recorder technology.
TiVo on Thursday said it will dismiss its counterclaim against Microsoft, who has also agreed to dismiss all of its pending litigation against TiVo.
Last month, TiVo reported it swung to a fiscal fourth-quarter profit, marking the most profitable quarter in its history, after Dish Network Corp. (DISH) and EchoStar Corp. (SATS) agreed to pay the company $500 million to settle a seven-year patent dispute over TiVo's digital video recorder technology. The company in January reached a separate deal with AT&T Inc. (T) that gives TiVo at least $215 million for its technology through June 2018.
TiVo and Microsoft shares closed Wednesday at $11.56 and $31.91, respectively. Both were inactive premarket.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283; firstname.lastname@example.org