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AlvarionŽ Receives Second Payment From Sale of Patents Portfolio

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Alvarion announced today that it received an additional $8.3 million in connection with its sale of patents to Wi LAN, following receipt of an approval of the Office of the Chief Scientist in Israel (OCS)..

The third part of the transaction for the sale of patents to Wi-LAN, for which Alvarion will be paid an additional amount of up to $2.2 million, is subject to a separate review and approval by the OCS relating to a smaller number of patents and patent applications.

On October 1, 2012, Alvarion announced the sale of part of its IP portfolio to Wi-LAN for up to $19 million, of which $8.5 million was paid to Alvarion at the closing.

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Tags: alvarion  Israel