Under terms of their agreement, TiVo said Verizon will initially pay $100 million in cash and recurring quarterly payments totalling $150.4 million through to July 2018.
In addition to the guaranteed compensation, Verizon will pay TiVo licence fees on a monthly basis through to July 2018 for each Verizon DVR subscriber in excess of certain predetermined levels.
ActiveVideo Networks also announced that it has resolved its ongoing patent dispute with Verizon Communications.
Jeff Miller, president and CEO of ActiveVideo Networks said: “While the terms of the agreement are confidential, we can confirm that the parties agreed to cross-license their patents, agreed not to sue each other for a period of years, and Verizon agreed to pay the $260 million previously ordered by the district court and an additional unspecified amount of money. In the end our technology and its value have been recognized.”
ActiveVideo Networks created CloudTV a virtual set-top box platform that enables the development and streaming of rich Navigation, Advanced Guides and TV Content to any set-top box.