Motorola Mobility says it has settled with TiVo
Motorola Mobility said Thursday that it has reached a settlement with digital video recording pioneer TiVo Inc. ahead of a patent trial that was to start in a Texas court next week.
"We're pleased that all parties involved have reached an agreement to resolve pending litigation," Motorola Mobility spokesman William Moss said Thursday in a statement.
The spokesman didn't put a monetary value on the settlement. A TiVo spokesman declined to comment.
TiVo Inc., which is based in Alviso, Calif., has been suing pay TV companies that it says use its patented technology in DVRs. Last year, it reached a $250 million settlement with Verizon.
Motorola Inc. split into two in early 2011: Motorola Mobility, which housed its cellphone and cable set-top box divisions, and Motorola Solutions, a maker of police radios, bar code scanners and other products for clients such as city and state police forces and private companies.
Google Inc. bought Motorola Mobility in 2012 for $12.4 billion but sold its set-top making unit to Arris Group Inc. of Suwanee, Ga., in April.
Arris said in its quarterly earnings filings in May that as part of its $2.4 billion purchase of the unit, Google agreed to cap Arris' liability for any intellectual property lawsuit payments at $50 million.
An earlier Bloomberg report of the settlement sent TiVo's shares up 8.3 percent to close at $13.71. The shares rose another 1.8 percent in after-hours trading to $13.96.
Google shares closed up 0.6 percent at $864.64 and were up another 16 cents at $864.80 after hours.
Arris Group shares closed up 2.6 percent at $14.65 and were inactive in extended trading.
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