Intel to Buy Patents and Next Generation Video Codec Software From RealNetworks
RealNetworks today announced that it has signed an agreement to sell a significant number of its patents and its next generation video codec software to Intel Corporation for a purchase price of $120 million. Under terms of the sale, RealNetworks retains certain rights to continue to use the patents in current and future products. In addition to the sale of the patents and next-generation video codec software, RealNetworks and Intel signed a memorandum of understanding to collaborate on future support and development of the next-generation video codec software and related products.
“Selling these patents to Intel unlocks some of the substantial and unrealized value of RealNetworks assets,” said Thomas Nielsen, RealNetworks President and CEO. “It represents an extraordinary opportunity for us to generate additional capital to boost investments in new businesses and markets while still protecting our existing business. “RealNetworks is pleased Intel has agreed to acquire our next generation video codec software and team,” said Nielsen. “Intel has a strong reputation as a technology innovator, and we believe they are well positioned to build on the development work and investment we’ve made in this area.”
Comments are closed.