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Nokia Sells Block of 500 Patents to Vringo
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Nokia has signed an agreement to sell a block of 500 patents to the patent holding company, Vringo for US$22 million, plus ongoing rights in revenues generated from the patent portfolio.
The portfolio consist of over 500 patents and patent applications worldwide, including 109 issued United States patents.
Vringo said that the portfolio encompasses a range of technologies relating to cellular infrastructure, including communication management, data and signal transmission, mobility management, radio resources management and services.
Thirty-one of the 124 patent families acquired have been declared essential by Nokia to wireless communications standards. Standards represented in the portfolio include GSM, WCDMA, T63, T64, DECT, IETF, LTE, SAE, and OMA.
The agreement also blocks Vringo from suing Nokia for patent infringements for the next seven years, otherwise Nokia will have the right to re-acquire the patent portfolio for a nominal amount.
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