InterDigital says looking to sell patents

Reuters News
Posted: Jan 23, 2012 4:44 PM
InterDigital says looking to sell patents

(Reuters) - InterDigital Inc <IDCC.O> said it is looking to sell its patent portfolio and enter into licensing partnerships as part of its strategic alternatives plan.

The wireless technology patent holder sees $800 million in annual revenue opportunity from the sale and licensing deals.

In August 2011, Apple Inc <AAPL.O>, Nokia <NOK1V.HE> and Qualcomm Inc <QCOM.O> and several other technology companies were pondering bids for InterDigital.

InterDigital also reported preliminary fourth-quarter earnings of $21 million, or 46 cents a share, and revenue of $74.2 million.

Analysts, on an average, are expecting earnings of 37 cents a share on revenue of $73.11, according to Thomson Reuters I/B/E/S.

Shares of the company were trading down 15 percent at $37.80 on Monday after the bell. They closed at $44.45 on the Nasdaq.

(Reporting by Rachana Khanzode in Bangalore; Editing by Roshni Menon)