Nortel Networks, Foundry Networks announce patent license agreement and settlement of lawsuits

October 26, 2004

1 Min Read

TORONTO -- Nortel Networks(NYSE:NT)(TSX:NT) and Foundry Networks, Inc. today announced that they have entered into a settlement agreement and patent license agreement. As part of the settlement, Nortel Networks has granted Foundry a four year license under certain patents, and Foundry will pay US$35 million to Nortel Networks.

Nortel Networks and its subsidiary Nortel Networks Inc. ("NNI") sued Foundry in the United States District Court for the District of Massachusetts for infringement of various Nortel Networks patents related to computer and data networking. Foundry subsequently sued Nortel Networks and NNI in the United States District Court for the Northern District of California for infringement of a Foundry patent, and Nortel Networks counterclaimed against Foundry for infringement of additional Nortel Networks computer and data networking patents. The lawsuits, Nortel Networks Inc. and Nortel Networks Limited, Plaintiffs, v. Foundry Networks, Inc., Defendant, in the United States District Court, District Court of Massachusetts, Case No. 0110441WGY and Foundry Networks, Inc., Plaintiff, v. Nortel Networks Inc. and Nortel Networks Limited, Defendants, in the United States District Court, Northern District of California, Case No. C0204909, will be dismissed.

Nortel Networks Ltd.

Foundry Networks Inc.

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