Nokia
has received $ 22 million from Vringo on their sale of 500 patents. Some of the
intellectual property being sold includes technology 2G, 3G and 4G. Vringo has
mobile patent portfolio licenses sold for technology companies. From the 500
patents, 109 of which were published in the United States. As part of the deal,
Nokia will continue to be able to use patents owned.
After
the income generated by patents exceeds $ 22 million, Nokia will be entitled to
receive a share of 35% of the revenue generated by Vringo through these
patents. Money of $ 22 million will be paid to Nokia later than 14 September
and to fund the deal Vringo will sell 9.6 million shares of his own. The
agreement is quite beneficial for Nokia, since last 1 year the Finnish company
suffered considerable losses, and cash of $ 22 million from the sale of patents
plus 35% of profits on patents is a wise step chosen by Nokia.
source
PhoneArena
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Nokia
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