Vonage Settles Verizon Patent Suit

Oct 26, 08:13 AM

Current Headlines: Vonage has settled a longstanding patent lawsuit with Verizon Communications but the cost remains uncertain.

Vonage, based in Holmdel, N.J., agreed to pay Verizon either $80 million or $117.5 million, depending on a decision by the U.S. Court of Appeals, The Wall Street Journal reported Friday.

Last month, the appeals court upheld a lower court ruling that Vonage had infringed on two Verizon patents. Vonage sought a rehearing of the decision and if successful will pay Verizon the lower amount, the report said.

Vonage is the leading independent provider of Internet phone service with 2.5 million customers.