Shares of Ontario-based BlackBerry at last check jumped 16% to $10.61. The Menlo Park, Calif., social network was up 2.2% to $250.98.
"We have resolved our disputes pursuant to a confidential agreement and have no further comment," a BlackBerry spokesperson said in an email.
BlackBerry sued Facebook in 2018 in California, charging that the social network and its WhatsApp and Instagram subsidiaries infringed on BlackBerry messaging app patents.
BlackBerry and its BBM system rose to popularity in the mid- to late-2000s.
The complaint charged that Facebook and its companies "are relative latecomers to the mobile messaging world."
"Defendants created mobile messaging applications that co-opt BlackBerry’s innovations, using a number of the innovative security, user interface, and functionality enhancing features that made BlackBerry’s products such a critical and commercial success in the first place," the company said.
Facebook and Snap last June filed motions to invalidate BlackBerry's patents.
BlackBerry's shares climbed on Thursday after Chief Financial Officer Steve Rai confirmed reports that the security and software services company had sold several patents covering mobile technology to China's Huawei Technologies.
In December 2016, BlackBerry sold the rights to design, manufacture and sell BlackBerry-branded phones to Chinese multinational TCL, leaving BlackBerry its software and mobile security products.
Facebook did not immediately respond to a request for comment.