WorldWide Tech & Science. Francisco De Jesús.
RealNetworks, Inc. patents sale agreement with Intel, is done.
RealNetworks, Inc. announced today that it has completed the sale of patents and its next generation video codec software to Intel Corporation for $120 million.
RealNetworks will retain certain rights to continue using its patents in both current and future products & services. In addition, Intel has signed a memorandum to collaborate on future support and development of next-generation media software and products.
RealNetworks does not expect the sale to have any detrimental effect on its future trading. Approximately 190 patents and 170 patent applications, as well as next generation video codec software have been sold.
Renée James, Intel senior vice president and general manager of the Software and Services Group said:
“As the technology industry evolves towards an experience-centric model, users are demanding more media and graphics capabilities in their computing devices. The acquisition of these foundational media patents, additional patents and video codec software expands Intel’s diverse and extensive portfolio of intellectual property.
We believe this agreement enhances our ability to continue to offer richer experiences and innovative solutions to end users across a wide spectrum of devices, including through Ultrabook devices, smartphones and digital media.”
