InterDigital (NASDAQ:IDCC) selling packages of patents - Financial Times

Discussion in 'Stocks' started by miguel007, Apr 25, 2012.

  1. InterDigital (NASDAQ:IDCC) is once again exploring a sale of its patents, two industry sources briefed on the matter told dealReporter.

    The Pennsylvania-based wireless technology company announced in January it had concluded a strategic review that began in July 2011. The process stalled because of the gap between buyer and seller’s price expectations, this news service previously reported.

    For the current talks, InterDigital has split its patent portfolio into separate bundles to appeal to more buyers, the first source said. As in the strategic review, Evercore is acting as InterDigital’s financial advisor, said one of the sources. This source added the current process is late into the first round of bidding.

    A person close to InterDigital said the focus is on the sale of bundles of patents, but if a buyer were to emerge for the entire company, the board would consider such an offer.

    Evercore did not return a request for comment.

    The two sources said InterDigital appeared to be less ambitious on valuation this time around. Its expectations last year for the whole company were buoyed by the high price paid for Nortel’s intellectual property assets.

    An industry banker said he expected the portfolio would attract serious bids because of the interest among large technology companies -- such as Google (NASDAQ: GOOG), Samsung (NASDAQ: SSNLF), and Apple (NASDAQ: AAPL) -- seeking to protect their businesses from patent litigation.

    InterDigital’s market capitalization currently stands at USD 1.44bn.