English
Conexant Sells Wireless Intellectual Property for $15 Million
NEWPORT BEACH, Calif., Oct. 20, 2008 – Conexant Systems, Inc. today announced that it has sold certain domestic and international wireless patents for approximately $15 million. The company also said that it retained the right to incorporate the wireless intellectual property in any current and future products. In November 2007, the company announced that it was discontinuing further investments in standalone wireless networking product development.
“The sale of intellectual property associated with a business we stopped investing in a year ago is consistent with our ongoing strategy to strengthen our balance sheet and improve our liquidity by monetizing non-core assets,” said Scott Mercer, Conexant chairman and chief executive officer. “These kinds of transactions provide us with the flexibility of using the proceeds to retire debt or to help fund acquisitions that augment our product-development efforts.”
No further details of the transaction were provided.
About Conexant
Conexant’s comprehensive portfolio of innovative semiconductor solutions includes products for imaging, video, audio, and Internet connectivity applications. Conexant is a fabless semiconductor company that recorded revenues of $574 million in fiscal year 2007. The company is headquartered in Newport Beach, Calif. To learn more, please visit www.conexant.com
|
||||||
Related News
- Hellosoft Inc., a provider of software intellectual property for wireless communications, raises $11 million
- Mindspeed Completes $10 Million Sale of Intellectual Property
- Kilopass Non-Volatile Memory Technology Embedded in 15 Million Units
- Sequans Announces a New $15 Million Licensing Agreement
- Qualinx's Series A Financing for All-Digital GNSS IoT Wireless Technology Hits $20 Million
Breaking News
- Arteris Joins Intel Foundry Accelerator Ecosystem Alliance Program to Support Advanced Semiconductor Designs
- SkyeChip Joins Intel Foundry Accelerator IP Alliance
- Siemens and Intel Foundry advance their collaboration to enable cutting-edge integrated circuits and advanced packaging solutions for 2D and 3D IC
- Cadence Expands Design IP Portfolio Optimized for Intel 18A and Intel 18A-P Technologies, Advancing AI, HPC and Mobility Applications
- Synopsys and Intel Foundry Propel Angstrom-Scale Chip Designs on Intel 18A and Intel 18A-P Technologies
Most Popular
- QuickLogic Delivers eFPGA Hard IP for Intel 18A Based Test Chip
- Siemens collaborates with TSMC to drive further innovation in semiconductor design and integration
- Aion Silicon Joins Intel Foundry Accelerator Design Services Alliance to Deliver Next-Generation Custom SoCs at Scale
- TSMC Unveils Next-Generation A14 Process at North America Technology Symposium
- BOS Semiconductors to Partner with Intel to Accelerate Automotive AI Innovation
|
E-mail This Article | 
|
|
Printer-Friendly Page |