TiVo and Samsung have called a truce in the form of a long-term, worldwide intellectual property license that will provide certain rights under TiVo’s patent portfolio’s for Samsung’s mobile, consumer electronics and set-top box businesses.
Financial terms weren’t announced, but as part of the agreement, TiVo and Samsung said they will seek an immediate stay of all pending litigation and patent challenges between the two companies and will seek dismissal of all claims based on “satisfaction of certain conditions in Q2 2016,” they said.
The agreement comes more than a year after TiVo filed a patent infringement suit against Samsung in Texas that centered on four patents that had been litigated previously by TiVo.
It also arrives less than two months after Rovi completed its merger with TiVo. The combined company, which kept the TiVo name, is expected to discuss the Samsung agreement in more detail today during its Q3 earnings call.
Update: Speaking on the call, TiVo CEO Tom Carson said the length of the deal is greater than five years, and that Samsung will pay for licenses for some previously sold set-top boxes and CE devices.
“TiVo is pleased we were able to reach the terms of an agreement with Samsung, one of the world’s most valued brands, and we look forward continuing to work with Samsung to advance the consumer entertainment experience,” Carson said, in a statement. “We believe this agreement with Samsung demonstrates the ongoing relevance of our intellectual property well into the future, as well as in key markets such as mobile. The arrangement also exemplifies the synergistic opportunities created by Rovi’s acquisition of TiVo to deliver significant value to our customers.”