BlackBerry wins $815m in Qualcomm arbitration case
BlackBerry has announced that it has been awarded $814,868,350 in royalty overpayments made to Qualcomm Incorporated after a binding interim arbitration decision
BlackBerry and Qualcomm entered into an agreement on 20 April 2016, to arbitrate a dispute regarding whether Qualcomm's agreement to cap certain royalties applied to payments made by BlackBerry under a licence agreement between the parties.
"BlackBerry and Qualcomm have a longstanding relationship and continue to be valued technology partners," said John Chen, executive chairman and CEO of BlackBerry. "We are pleased the arbitration panel ruled in our favour and look forward to collaborating with Qualcomm in security for ASICs and solutions for the automotive industry."
The binding arbitration hearing was held in San Diego, California from 27 February, 2017 to March 3, 2017 under Judicial Arbitration and Mediation Services rules. BlackBerry was represented by Sullivan & Cromwell LLP in the proceeding.
A final award including interest and reasonable attorneys' fees will be issued after a hearing on 30 May 2017. GTB