Wireless technology research and development company InterDigital — owner of a vast number of patents related to wireless technologies — has announced that it will be selling 1,700 of them to Intel for $375 million. The patents are specifically related to 3G, LTE, and 802.11 technologies, which Intel says will be useful as the company continues its push into the smartphone market. The purchase will also help further fortify the company's patent portfolio, with senior vice president and general counsel at Intel Doug Melamed explaining, "The addition of these patents expands our already large, strong and diverse portfolio of intellectual property." The transaction, which only accounts for a small portion of InterDigital's portfolio, is expected to be completed by the third quarter of 2012.
Intel to purchase 1,700 Wi-Fi, 3G, and LTE patents from InterDigital for $375 million
Intel to purchase 1,700 Wi-Fi, 3G, and LTE patents from InterDigital for $375 million/
Intel will be buying 1,700 patents related to mobile wireless technologies from telecommunications company InterDigital.