Apple has agreed to pay $24.9 million to settle a years-long lawsuit alleging that its Siri voice technology violated a patent licensed to a Dallas company by Rensselaer Polytechnic Institute in Troy, New York, Albany Business Review said.
The lawsuit alleges Siri was developed at Rensselaer before Apple introduced it in 2011 with the iPhone 4S. The Dallas company, Dynamic Advances, was the exclusive licensee of Rensselaer's patent.
Under the terms of the agreement, Dynamic Advances' parent company Marathon Patent Group will receive $5 million from Apple (NASDAQ: AAPL) immediately after dropping its case. The remaining $19.9 million will come after some conditions are met.
In exchange, Apple will receive a patent license and a promise that it won't be sued again for three years.
