Lenovo Pays $100 Million for Mobile Patent Licenses
Published on: 21st Mar 2014
Note -- this news article is more than a year old.
China's Lenovo, fresh from buying Motorola Mobility from Google is boosting its mobile patents portfolio with a $100 million deal with Unwired Planet.
Unwired Planet announced that Lenovo has agreed to purchase a portfolio of patents and to take a term-based license to Unwired Planet's patent portfolio. The aggregate consideration for the combined transaction is $100 million payable in cash.
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.
"This investment is an extension of Lenovo's existing intellectual property portfolio," said Jay Clemens, General Counsel of Lenovo. "It will serve the company well as we grow and develop our worldwide smartphone and mobile PC Plus business in new markets."
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 will consist of approximately 2,500 issued and pending US and foreign 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.