WATERLOO, Ontario (AP) — BlackBerry Ltd. says it has been awarded $814.9 million in a binding interim arbitration decision in a dispute with Qualcomm Inc. over royalty overpayments.
The two companies agreed last year to arbitrate a disagreement regarding whether Qualcomm’s agreement to cap certain royalties applied to payments made by BlackBerry under a license agreement.
BlackBerry chief executive John Chen said Wednesday in a statement the two companies have a longstanding relationship and continue to be valued partners.
BlackBerry says a final award including interest and reasonable legal fees will be issued after a hearing on May 30.
Qualcomm says while it does not agree with the decision, it is binding and not appealable.
The San Diego-based chip maker says the decision is limited to provisions unique to BlackBerry’s license agreement with Qualcomm.