5 million and the parties executing full and final releases in respect of all outstanding worldwide litigation,'' said a statement by the BlackBerry maker here.

The global wireless giant said the settlement will be completed by July 20, 2009.

This is the second time in three years that RIM has to pay a huge amount to settle a patent dispute with another company.

In 2006, the Waterloo-based Canadian giant had paid a whopping $612.5 million to settle a patent dispute with NTP Inc., a Virginia-based patent-holding company.

It had filed the lawsuit against RIM in 2001, claiming that the BlackBerry maker used its patents without authorization to create the push e-mail platform on its smart phones.

After a five-year legal battle, RIM paid $612.5 million to the American company 'in full and final settlement of all claims against RIM, as well as for a perpetual, fully-paid up license going forward.''