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Unwired Planet Closes Lenovo Patent License and Purchase Transaction

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Unwired Planet says that it has completed a previously announced patent license and purchase transaction with Lenovo. The agreements called for $100 million upfront payment for both a pre payment on the license and for the sale of 142 patents.

Net proceeds to Unwired Planet, after payments to Ericsson, total $70 million.

Under the terms of the agreement, Lenovo is licensed to Unwired Planet's intellectual property portfolio for a number of years, covering standard essential, implementation, and application layer technology for mobile devices. Following the transaction, Unwired Planet's portfolio consists of approximately 2,500 issued and pending US and foreign patents.

The patent purchase consists of 21 patent families owned by Unwired Planet, including patents for 3G and LTE mobile technologies and other important mobility patents.

Unwired Planet was one of the very early developers of the WAP and mobile browsing technologies. Initially a mobile browser developer, it is now purely an IP and patent holding company.

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