Blackberry maker Research in Motion (RIMM) and Motorola (MOT) have settled their dispute over patented technology in their smartphones.

As part of the settlement, RIM has agreed to make a one-time payment to Motorola and pay ongoing royalties in exchange for an end to the litigation.

According to Dow Jones, neither company would disclose specific information on the cross-licensing deal, which covers  2G, technology, 3G, 4G, wi-fi, wireless e-mail and other industry applications. The deal also includes a transfer of various patents.

Shares of RIM were off about .5% in Friday trading, while shares of Motorola were up about 4%.