March 20 Unwired Planet Inc said it
sold a portfolio of patents to Chinese technology company Lenovo
Group Ltd for $100 million in cash, sending its shares
up 73 percent in trading after the bell.
Unwired, an intellectual property and technology licensing
company, said the portfolio included patents for 3G and LTE
Lenovo has been making a big push into the smartphone market
as the broader desktop PC market shrinks and computer users go
It recently bought Google Inc's Motorola Mobility
handset unit for $2.91 billion in the fourth-largest U.S.
acquisition by a Chinese or Hong Kong company ever in Jan this
Unwired's shares jumped to $2.25 in after-market trade after
closing at $1.30 on the Nasdaq on Thursday.
(Reporting By Aurindom Mukherjee in Bangalore)