updated 01:05 pm EDT, Fri April 27, 2012
Biometrics company to sell wireless patents
Biometrics company Aware, Inc. announced today the completion of an agreement for the sale of $75 million worth of patents to Intel. The patents involved in the sale relate largely to networking and wireless technologies.
The Massachusetts-based Aware is in the midst of transitioning from selling technology to selling software, and as such no longer has need for the patents in the sale. Should the deal, still subject to regulatory approval, go through, the $75 million payday will represent quite a windfall for the company, which yesterday had a market cap lower than the value of the patent sale.
Intel, for its part, will receive a range of patents and patent applications for LTE, Wi-Fi, and Wireline Home Networking. As the chipmaker continues to expand its processor offerings for notebooks, mobile phones, tablets, and other connected devices, it is likely that the additions to its wireless patent portfolio will come in handy, especially considering the trend toward patent litigation which has become quite pronounced in the computing industry as of late.