[Techtaffy Newsdek]
RealNetworks has signed an agreement to sell a significant number of its patents and its next generation video codec software to Intel for a purchase price of $120 million. In addition to the sale of the patents and next-generation video codec software, RealNetworks and Intel signed a memorandum of understanding to collaborate on future support and development of the next-generation video codec software and related products.
Thomas Nielsen (President and CEO, RealNetworks): Selling these patents to Intel unlocks some of the substantial and unrealized value of RealNetworks assets.
Under terms of the sale, RealNetworks retains certain rights to continue to use the patents in current and future products.