Technology and IP commercialisation company ipernica (ASX:IPR) expects a $2.9 million windfall from settling a patent lawsuit against Ericsson in the US.
ipernica said it had reached a settlement in the lawsuit defending its Statistical Multiplexing data transmission patent after court-ordered mediation.
The company expects to retain around US$2 million ($1.9 million) from the settlement after expenses and taking into account the profit sharing agreements it has with its partners.
A guaranteed payment of $1 million to profit share partner Curtin University will also be extinguished as a result of the settlement.
The resulting gain of $2.9 million at current exchange rates is before accounting for tax.
ipernica has already won settlements from companies including Nortel, Juniper Networks, Cisco and Alcatel-Lucent over the patent.
In total, the Stat Mux IP protection program has made around $43 million in revenue, and licenses have been negotiated with all the telecom equipment vendors involved, ipernica said on Friday. The program is now complete.
The money from the Ericsson settlement should be received by early July, the company added.
IPR shares grew 14.29% during Friday's trading to $0.080 following the news.
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