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Web Design News: Miva Agrees to Pay Yahoo $8 Million
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Joined: 17 Aug 2005
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Subject: Web Design News: Miva Agrees to Pay Yahoo $8 Million  Posted: Wed August 17, 2005

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Online marketer Miva has agreed to pay Yahoo $8 million and ongoing royalties to settle a patent infringement lawsuit over pay-per-click technology used in search result ads.

Neither Yahoo nor Miva, acquired by FindWhat.com in 2003, disclosed terms of the royalty payments that are part of the settlement, announced Monday in Miva's quarterly financial report. The agreement ends a three-year legal battle between the two companies.

"We are pleased to have this behind us and eager to move forward," Craig Pisaris-Henderson, chief executive of Fort Myers, Fla.-based Miva, said in a statement.

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