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Alvarion® 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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