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Intel has decided to beef up its strategy for mobile technology by purchasing 1,700 patents from InterDigital for $375 million in cash, the company announced today.
InterDigital is known for producing advanced wireless technology, and the patents it sold to Intel are primarily related to 3G, LTE, and 802.11 technologies. InterDigital said the sale represents a small portion of its overall patent library.
With the rate of mobile usage by consumers rapidly increasing, it’s understandable that Intel would want to make sure its future in this area is more secure.
“These patents will support Intel’s strategic investments in the mobile segment,” said Doug Melamed, Intel senior vice president and general counsel. “The addition of these patents expands our already large, strong, and diverse portfolio of intellectual property.
The companies expect the transaction to be completed in third quarter 2012, pending the approval from regulators and other customary closing conditions.