BlackBerry settles patent dispute with smartphone maker Blu Products

WATERLOO, Ont. — BlackBerry Ltd. (TSX:BB) has reached a settlement in a patent dispute with smartphone maker Blu Products.The two companies say they have signed a patent license agreement and ended their legal fight.Under the deal, Blu will make on-going payments to BlackBerry.Additional terms of the agreement were confidential, the companies said.BlackBerry holds a portfolio of approximately 40,000 patents and applications covering a wide array of technologies.The company says the deal will allow it to focus on further licensing opportunities in the mobile communications market.