Boston, MA 03/27/2014 (wallstreetpr) – Unwired Planet Inc. (NASDAQ:UPIP) shares continue to be bullish in the market after the company announced an agreement worth $100 million with Chinese Technology Company Lenovo for the sale of some of its patent portfolios. The agreement also saw Lenovo taking a term based license on some of Unwired’s patents.
Lenovo purchased a total of 21 patent families owned by Unwired Planet with the agreement including patents for 3G and LTE mobile technologies, as well as other mobility patents. Lenovo continues to make a big push into the smartphone industry that has been overshadowed by new technologies in the recent past, making it highly complicated and competitive.
Terms of the Agreement
Lenovo as part of the deal will be licensed to Unwired’s Planet property portfolio for a number of years with the transaction expected to close within the next 30 days. Lenovo recently mad headlines by completing the largest acquisition by a Chinese or Hong Kongcompany, after acquiring Google Inc.’s (NASDAQ:GOOG) Motorola mobility handset for $2.91 billion.The patent acquisitions and licensing are expected to be highly beneficial as the company strives to shrug off competition from industry giants.
Unwired Planet Unending Enmity with Industries’ Giants
Unwired Planet has over the years built big time enemies with some of the industry giants such as Google Inc. (NASDAQ:GOOG) and Apple Inc. (NASDAQ:AAPL), over its wide range of patent portfolios. In 2012 the company sued Apple and Google over claims they had breached 20 of its patents that are related to the cloud computing platform, smartphone devices as well as push notification technologies and location based services.
Unwired Planet Inc. (NASDAQ:UPIP)’s stock continue to be rated favorably in the market as the company continues to register robust growth in revenues as well as growth in earnings per share. Analysts at equity research firm Northland Securities currently have a “Buy” rating on the company’s stock. This is after the company reported impressive financial results for its fourth quarter in which earnings per share beat consensus estimates by $0.01 coming in at $0.08.
