Thursday, October 7, 2010

Mindspeed completes $5.3 million sale of intellectual property

NEWPORT BEACH, USA: Mindspeed Technologies Inc., a leading supplier of semiconductor solutions for network infrastructure applications, has closed the sale of certain legacy patents for $5.3 million, which will be reported as revenue in the company's fiscal fourth quarter of 2010 ending on October 1, 2010. Specific terms of the sale are confidential.

The announced patent sale is in addition to the $10.0 million patent sale announced on July 26, 2010, of which $7.5 million will be reported as revenue in the company’s fiscal fourth quarter of 2010. In total, $12.8 million in legacy patent sales will be reported as revenue in the company’s fiscal fourth quarter of 2010.

“We are excited to further bolster our liquidity position with these additional legacy patent sales, which put the company in its strongest net cash position in over five years,” said Bret Johnsen, Mindspeed's CFO.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.