WATERLOO – An interim arbitration decision has awarded BlackBerry $814,868,350.00 for royalty overpayments that it made to Qualcomm Inc., the company said Wednesday.
BlackBerry and Qualcomm entered into an agreement on April 20, 2016 to arbitrate a dispute regarding whether Qualcomm's agreement to cap certain royalties applied to payments made by BlackBerry under a license agreement between the parties.
The binding arbitration hearing was held in San Diego, California from February 27 to March 3, 2017, and a final award including interest and attorneys' fees will be issued after a hearing on May 30.
"BlackBerry and Qualcomm have a longstanding relationship and continue to be valued technology partners," said BlackBerry executive chairman and CEO John Chen, in a statement. "We are pleased the arbitration panel ruled in our favor and look forward to collaborating with Qualcomm in security for ASICs and solutions for the automotive industry."
