Unwired Planet Closes Lenovo Patent License and Purchase Transaction
RENO, Nev. -- April 17, 2014
Unwired Planet, Inc. (NASDAQ:UPIP) announced it has completed its patent
license and purchase transaction with Lenovo, initially disclosed on March 20,
2014. The agreements called for $100 million upfront payment for both a
pre-payment on the license and for the sale of 142 patents. Net proceeds to
Unwired Planet, after payments to Ericsson, total $70 million.
Under the terms of the agreement, Lenovo is licensed to Unwired Planet’s
intellectual property portfolio for a number of years, covering standard
essential, implementation, and application layer technology for mobile
devices. Following the transaction, Unwired Planet’s portfolio consists of
approximately 2,500 issued and pending US and foreign patents.
The patent purchase consists of 21 patent families owned by Unwired Planet,
including patents for 3G and LTE mobile technologies and other important
About Unwired Planet
Unwired Planet, Inc. (NASDAQ: UPIP) is the inventor of the Mobile Internet and
a premier intellectual property company focused exclusively on the mobile
industry. The company's patent portfolio includes technologies that allow
mobile devices to connect to the Internet and enable mobile communications.
The portfolio spans 2G, 3G, and 4G technologies, as well as cloud-based mobile
applications and services. Unwired Planet's portfolio includes patents related
to key mobile technologies, including baseband mobile communications, mobile
browsers, mobile advertising, push notification technology, maps and location
based services, mobile application stores, social networking, mobile gaming,
and mobile search. Unwired Planet is headquartered in Reno, Nevada. References
in this release to Unwired Planet may be to Unwired Planet, Inc. or its
Cautionary Note Regarding Forward Looking Statements
Any statements in this press release with respect to future events or
expectations, including statements regarding the Company's licensing
activities and expectations regarding enhancing shareholder value are
forward-looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934 and Section 27A of the Securities Act of 1933. These
forward-looking statements are subject to many risks and uncertainties that
could cause actual results to differ materially from those projected.
Notwithstanding changes that may occur with respect to matters relating to any
forward looking statements, Unwired Planet assumes no obligation to update the
forward-looking statements included in this press release. For a detailed
discussion of these and other factors that may cause these forward looking
statements not to come true, please refer to the risk factors discussed in
Unwired Planet's filings with the U.S. Securities and Exchange Commission,
including the company's Annual Report on Form 10-K for the fiscal year ended
June 30, 2013. These documents are available at www.sec.gov or from Unwired
Planet's website at www.unwiredplanet.com.
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