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June 19, 2012

InterDigital sells 1700 patents to Intel for $375m

Follows Intel’s latest expansion to expand its chip business beyond desktop PCs and into devices

By CBR Staff Writer

InterDigital said it has agreed to sell Intel about 1,700 patents and patent applications for $375m related to 3G, LTE and 802.11 technologies.

InterDigital Strategy and Finance senior executive vice president Scott McQuilkin said this transaction, which involves a small portion of the company’s overall patent portfolio, marks an important milestone of its stated strategy of expanding the monetisation of its growing intellectual property portfolio.

"By executing on our business plan, which has been broadened to include patent sales, licensing partnerships and other possibilities, we see tremendous potential to expand revenue and build shareholder value," he added.

Intel Senior Vice President and General Counsel Doug Melamed said, "These patents will support Intel’s strategic investments in the mobile segment."

"The addition of these patents expands our already large, strong and diverse portfolio of intellectual property," Doug added.

The transaction is expected to be completed in third quarter 2012.

InterDigital has developed wireless technologies such as WCDMA Wideband CDMA, High Speed Download Packet Access (HSDPA) and High Speed Upload Packet Access (HSUPA), 3G technologies as well as Long Term Evolution (LTE) and LTE-Advanced 4G technologies.

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In January, Intel released new mobile Atom processor-based platform and acquired Infineon’s Wireless Solutions business in February 2011.

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