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Business | September 15, 2011

Mosaid sells non-strategic patents

Mosaid Technologies Inc. has sold five patent families for USD 11.0 million to an unnamed buyer.
"With the ever increasing awareness in the marketplace of the value of patented intellectual property, the sale of non-strategic patents and applications has become a more important element of our patent monetization strategy," said Phil Shaer, Vice President, General Counsel & Corporate Secretary, Mosaid.

The five patent families, which were not generating current licensing revenues, consist of U.S. patents and applications, and foreign counterparts. Mosaid will collect payment for the patents over several quarters, with the revenue being recognized as amounts become due.

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