Lenovo Forking Over $100 Million for Mobile Patents
Lenovo is paying $100 million to buy a portfolio of patents and license other patents from Nevada-based Unwired Planet.
The purchase consists of 21 patent families, including patents related to 3G and LTE technologies. The purchase comes as Lenovo is looking to boost its global smartphone position and is in the process of acquiring Motorola Mobility from Google. Lenovo will also gain access for a number of years to Unwired Planet’s broader portfolio of 2,500 issued and pending patents.
“It will serve the company well as we grow and develop our worldwide smartphone and mobile PC Plus business in new markets,” Lenovo General Counsel Jay Clemens said in a statement.
The transaction is expected to close in 30 days.