Aware to sell patents to Intel for $75 million, shares surge

Reuters News

4/27/2012 9:38:46 AM - Reuters News

(Reuters) - Software maker Aware Inc said it will sell some patents related to WiFi and 4G LTE to Intel Corp for about $75 million, sending its shares up 70 percent.

Aware, which sells software for biometrics and imaging applications, also declared a special cash dividend of $1.15 per share, or about $24 million, to be paid on May 25.

Shares of the company were up $2.61 in early trade at $6.35 on Friday on the Nasdaq.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das, Saumyadeb Chakrabarty)