BlackBerry and Timex Group Enter Patent License Agreement

BlackBerry Limited (NASDAQ:BBRY)(TSX:BB) and Timex Group recently announced they have entered into a patent license agreement. While the contract didn't reveal what product and patents services are involved, Timex will be making on-going royalty payments to BlackBerry.

BlackBerry is a mobile-native security software and services company dedicated to securing the enterprise of things. Based in Waterloo, Ontario, the company was founded in 1984 and operates in North America, Europe, Asia, Middle East, Latin America and Africa.

The Company trades under the ticker symbols "BB" on the Toronto Stock Exchange and "BBRY" on the NASDAQ. BlackBerry's portfolio consists of approximately 40,000 worldwide patents and applications covering a wide array of technologies including wireless communications, networking infrastructure, acoustics, messaging, enterprise software, operating systems, virtualization and cyber security.

Timex Group designs, manufactures and markets innovative timepieces around the world. Founded in 1854, Timex Group is a privately held company headquartered in Middlebury, Connecticut with multiple operating units and over 3,000 employees worldwide.

As one of the largest watchmakers in the world, Timex Group companies produce watches under a number of well-known brands, including Timex, Guess, GC, Versace, Versus, Salvatore Ferragamo, and Nautica. Launched in 1950, Timex sells millions of watches each year worldwide.