BlackBerry settles patent dispute with smartphone maker Blu Products

WATERLOO, Ont. _ BlackBerry Ltd. (TSX:BB) has reached a settlement in a patent dispute with smartphone maker Blu Products.

The two companies say they have signed a patent license agreement and ended their legal fight.

Under the deal, Blu will make on-going payments to BlackBerry.

Additional terms of the agreement were confidential, the companies said.

BlackBerry holds a portfolio of approximately 40,000 patents and applications covering a wide array of technologies.

The company says the deal will allow it to focus on further licensing opportunities in the mobile communications market.