SAN FRANCISCO - Dolby Laboratories says Research in Motion (TSX:RIM) has agreed to license its audio technologies that were the subject of two recent lawsuits against the BlackBerry maker.
As a result, Dolby Laboratories Inc. (NYSE:DLB) said Monday it has dropped its patent infringement lawsuits against Research In Motion Ltd.
In a June 15 lawsuit, Dolby had claimed that RIM's smartphones and Playbook tablet devices use its patented digital audio compression technology without a license. This technology enables the playback of high-quality audio files using limited amounts of storage space.
Dolby says the lawsuits were dismissed Monday because of the licence agreement.
Representatives for RIM, which is based in Waterloo, Ont., in Canada, did not immediately return a message for comment.
Financial terms were not disclosed.