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InterDigital Inc's Subsidiaries Agrees To $375 Million Patent Transaction With Intel Corporation
InterDigital Inc and Intel Corporation announced that certain of InterDigital`s subsidiaries have signed a definitive agreement to sell to Intel roughly 1,700 patents and patent applications for $375 million in cash. The agreement involves patents primarily related to 3G, LTE and 802.11 technologies. InterDigital is an active developer of advanced wireless technologies including WCDMA (Wideband CDMA), HSDPA (High Speed Download Packet Access) and HSUPA (High Speed Upload Packet Access) 3G technologies as well as LTE (Long Term Evolution) and LTE-Advanced 4G technologies. The companies expect the transaction to be completed in third quarter 2012, subject to customary closing conditions and any required regulatory approvals.
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