RealNetworks, Inc. announced today that it has completed the sale of patents and has signed an agreement with Intel Corporation for $120 million.
The Seattle-based online media software company will be selling a significant number of its patents and its next generation video codec software to Intel.
Under the terms of the agreement, RealNetworks will retain certain rights to continue using its patents in both current and future products & services. In addition, Intel has signed a memorandum to collaborate on future support and development of next-generation media software and products.
RealNetworks does not expect the sale to have any detrimental effect on its future trading. Approximately 190 patents and 170 patent applications, as well as next generation video codec software have been sold.
Renée James, Intel senior vice president and general manager of the Software and Services Group said:
"As the technology industry evolves towards an experience-centric model, users are demanding more media and graphics capabilities in their computing devices. The acquisition of these foundational media patents, additional patents and video codec software expands Intel's diverse and extensive portfolio of intellectual property.
We believe this agreement enhances our ability to continue to offer richer experiences and innovative solutions to end users across a wide spectrum of devices, including through Ultrabook devices, smartphones and digital media."
The company originally announced the purchase and licensing agreement agreement on January 26 this year.