Friday, March 21, 2014

Unwired Planet sells patent portfolio to Lenovo for $100 million

Unwired Planet said it sold a portfolio of patents to Chinese technology company Lenovo Group Ltd for $100 million in cash, sending its shares soaring pre-market. 

Unwired Planet, which is an intellectual property and technology licensing company, said their portfolio included patents for 3G and LTE mobile technologies.  Lenovo who purchased the portfolio has been making a big splash into the smartphone market as the broader desktop PC market shrinks and computer users go mobile.  Here is the sec filing about the patent portfolio sale.