Beam Communications (ASX:BCC) entered into a settlement agreement estimated to be around $2.6 million with Roadpost, according to a Tuesday filing with the Australian bourse.
The payment covers the company's Zoleo royalty stream from its exclusive territories in Australia and New Zealand, as well as its existing Zoleo devices in inventory, the filing said.
Additionally, the company will receive a separate payment over 36 months for the sale of its 50% stake in the Zoleo joint venture, according to the filing.
Beam Communications shares rose 15% in midday trade Tuesday.
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