RealNetworks Completes Sale of Patents and Next Generation Video Codec Software to Intel
Seattle, WAApril 5, 2012RealNetworks, Inc. (Nasdaq: RNWK) said today it has completed the previously announced sale of patents and next generation video codec software to Intel Corporation for $120 million.
RealNetworks retains certain rights to continue to use the patents in current and future products and does not expect the sale will have any material impact on its businesses.
RealNetworks originally announced the asset purchase agreement and licensing agreement on January 26, 2012. The press release announcing the sale can be found at http://www.realnetworks.com/press/releases/2012/intel-to-buy-patents-and-next-generation-video-codec-software-from-realnetworks.aspx
A copy of the Form 8-K, filed today, can be found at http://investor.realnetworks.com/sec.cfm
RealNetworks creates innovative applications and services that make it easy for people to connect with and enjoy digital media. RealNetworks invented the streaming media category in 1995 and continues to connect consumers with their digital media both directly and through partners, aiming to support every network, device, media type and social network. RealNetworks corporate information is located at www.realnetworks.com/our-story