The one-time payment will give Apple non-exclusive license to Burst’s patent portfolio, except four specified DVR technologies.
The $10 million patent license provides Apple with the right to use Burst’s intellectual property in its own technology and products, without further consideration. Burst, however, retains the right to enforce its patent portfolio against others.
Court costs, expenses and attorney’s fees in connection with the settlement of the litigation with Apple will reduce proceeds to the Company to approximately $4.6 million.
The Apple litigation related to audio compression software used in iPod players, iTunes, iLife and QuickTime.
Burst settled a similar dispute for US$50 million last year.
“Burst plans to continue identifying and evaluating companies who represent licensing opportunities and intends to diligently pursue those likely to yield suitable returns,” the company said in a statement.
“Burst does not plan to announce specific names of suspected infringing products or companies in advance of negotiating with them or filing litigation to enforce its patent rights.”
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