PAETEC to License Certain Sprint VoIP Patents

PAETEC (PAET) has agreed to license some of Sprint Nextel Corp.’s (S) VoIP patents.

The move comes more than a year after Sprint sued PAETEC and three other rivals for IP telephony patent infringement.

PAETEC said in a filing this week with the Securities and Exchange Commission that Sprint has dismissed its suit against PAETEC; the two companies also have reached a licensing deal.

Terms of the settlement were not disclosed. PAETEC did say the settlement will not materially impact its financials.