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Intel Purchases InterDigital Patents for $375 Million
A model displays an Intel Ultrabook using a third generation Intel core processor at 2012 Computex in Taipei on June 7, 2012. (Mandy Cheng/AFP/GettyImages)
Intel Corp. has bought approximately 1,700 patents and patent applications from InterDigital Inc. for $375 million, the semiconductor chipmaker announced on Monday. The agreement primarily involves patents related to 3G, 4G long-term evolution, LTE, and 802.11 technologies
The move comes as technology companies are building their patent arsenals to protect against possible litigation, notably in the mobile sector.
Following the announcement, Intel’s stock surged a fraction to $27.41 while InterDigital’s shares gained a significant 26 percent to $28.83 per share.
“These patents will support Intel’s strategic investments in the mobile segment,” said Intel Senior Vice President and General Counsel Doug Melamed in a statement. “The addition of these patents expands our already large, strong and diverse portfolio of intellectual property.”
InterDigital’s Senior Executive Vice President Scott McQuilkin said this transaction, which involved a small portion of the company’s overall patent portfolio, goes hand in hand with its strategy to expand the monetization of its large and growing intellectual property portfolio.
“We see tremendous potential to expand revenue and build shareholder value,” he said.
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