* To enter into patent licensing pacts with Arris, Cisco,
* Will recognize part of payment during current quarter
* Doubles share buyback to $200 mln
* TiVo shares fall 20 pct in premarket trading
June 7 Video recorder pioneer TiVo Inc
said it would receive $490 million after settling a patent
lawsuit with Google Inc's Motorola Mobility, Cisco
Systems Inc and Time Warner Cable Inc, days
before the case was to go to trial.
But TiVo shares fell 20 percent in premarket trading as the
settlement disappointed shareholders expecting a bigger payout.
The shares rose 8 percent on Thursday after Motorola
Mobility said it reached an out-of-court settlement with TiVo.
Motorola did not disclose details of the agreement.
Motorola had accused TiVo in February 2011 of infringing its
patents for digital video recorders. TiVo filed a counterclaim
in March last year.
TiVo will enter into patent licensing arrangements with
Arris Group Inc, Cisco and Google as part of the
settlement, TiVo said.
TiVo, which will recognize a portion of the payment as past
damages during the current quarter and the remainder over time,
said all pending litigation would be dismissed.
The company also said it would double its stock buyback plan
to $200 million and extend it for two years until Aug. 29, 2015.
The patent trial was scheduled to begin on Monday.
TiVo has turned to litigation to generate revenue from
licensing fees as it struggles with competition from low-cost
It settled a patent litigation with Verizon Communications
Inc for $250.4 million in September.
The case is in re Motorola Mobility Inc et al vs. TiVo Inc,
case number 11-00053, U.S. District Court, Eastern District of