Freedom Finalizes bcgi Settlement
The final chapter of the long-standing patent battle between Freedom Wireless and Boston Communications Group Inc. (bcgi) has come to a close. The companies announced that terms of their previously announced settlement have been finalized.
The companies announced a settlement in July. Under the terms, bcgi agreed to pay Freedom Wireless $55 million. The settlement also included a licensing agreement, which will enable bcgi to continue offering its prepaid wireless services.
Now that the agreement has been completed, all of Freedom's pending lawsuits against bcgi have been dismissed.
"We are thankful to end this chapter in bcgi's history," says Paul Tobin, bcgi's acting president and CEO. "With this behind us, we are well positioned to penetrate the global wireless market with our innovative solutions."
Last week, Freedom came to terms with MVNO Virgin Mobile USA over patents related to "certain prepaid wireless systems and methods." The companies forged a royalty-bearing agreement and were able to resolve the matter before it went to court.