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Vringo to Acquire Over 500 Patents and Applications from Nokia. Nokia to get cash payment and revenue sharing rights.

Another asset offloading by Nokia after Qt sell to Digia. Nokia has entered into a Patent selling Agreement with Vringo, which seems to be a company having expertise in monetization of mobile technologies and intellectual property. It has agreed to sell Vringo a portfolio consisting of over 500 patents and patent applications orldwide, including 109 issued United States patents. Vringo agreed to compensate Nokia with a cash payment and certain ongoing rights in revenues generated from the patent portfolio.

 Read the full press release,

Vringo and Nokia Execute Patent Purchase Agreement
Vringo to Acquire Over 500 Patents and Applications from Nokia

NEW YORK–(BUSINESS WIRE)–Aug. 9, 2012– Vringo, Inc. (NYSE MKT: VRNG), a company engaged in the innovation, development and monetization of mobile technologies and intellectual property, today announced that it had entered into a Patent Purchase Agreement with Nokia Corporation pursuant to which Nokia agreed to sell Vringo a portfolio consisting of over 500 patents and patent applications worldwide, including 109 issued United States patents. Vringo agreed to compensate Nokia with a cash payment and certain ongoing rights in revenues generated from the patent portfolio.

The portfolio encompasses a broad range of technologies relating to cellular infrastructure, including communication management, data and signal transmission, mobility management, radio resources management and services.

Thirty one of the 124 patent families acquired have been declared essential by Nokia to wireless communications standards. Standards represented in the portfolio are commonly known as 2G, 2.5G, 3G and 4G and related technologies and include GSM, WCDMA, T63, T64, DECT, IETF, LTE, SAE, and OMA.

Further details are included in a Form 8-K to be filed by Vringo with the United States Securities and Exchange Commission.

Source 

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Nayan

Nayan has more than 10 years of experience of covering Technology and innovations. He is a big Nokia fan and Tech disruptions aficionado. He loves to review new cool gadgets and writing about Android, iOS, Gadgets and general Technology stuff. He has been associated with other well-known Tech sites WinCentral and GadgetOx since long.

He currently sports a Lumia 950 XL and Nexus 5X. Other interests include listening to Nu-Metal Hits and Kick-Boxing.
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