Unwired Planet and Lenovo Announce Patent License and Patent Purchase Transaction
RENO, Nevada--(BUSINESS WIRE)--
Unwired Planet, Inc. (NASDAQ:UPIP) and Lenovo (HKSE: 992) (ADR: LNVGY)
announced that Lenovo has agreed to purchase a portfolio of patents from
Unwired Planet and to take a term-based license to Unwired Planet's
patent portfolio. The aggregate consideration for the combined
transaction is $100 million payable in cash.
The patent purchase consists of 21 patent families owned by Unwired
Planet, including patents for 3G and LTE mobile technologies and other
important mobility patents.
"We are pleased to have reached an agreement with one of the world's
leading global technology companies," said Philip Vachon, Chairman of
Unwired Planet's Board of Directors and head of its Intellectual
Property Committee. "We wish Lenovo continued success going forward."
"This investment is an extension of Lenovo's existing intellectual
property portfolio," said Jay Clemens, General Counsel of Lenovo. "It
will serve the company well as we grow and develop our worldwide
smartphone and mobile PC Plus business in new markets."
Under the terms of the agreement, Lenovo is licensed to Unwired Planet's
intellectual property portfolio for a number of years, covering standard
essential, implementation, and application layer technology for mobile
devices. Following the transaction, Unwired Planet's portfolio will
consist of approximately 2,500 issued and pending US and foreign patents.
The transaction is expected to close in 30 days.
Evercore acted as advisor to Unwired Planet on the transaction.
Unwired Planet will host a conference call for its analysts and
investors before the market opens Friday, March 21 at 5:30 a.m. pacific
time (8:30 a.m. eastern time) and will webcast the event. To access the
conference call, dial 480-629-9712 or 877-941-2068 and enter passcode
4675723. The webcast and replay will be available on Unwired Planet's
website at http://www.unwiredplanet.com/investors/.
A replay of the conference call will be available within two hours of
the conclusion of the conference call through April 11, 2014. To access
the replay, dial 303 590 3030 or 800-406-7325 and enter passcode 4675723.
Lenovo (HKSE: 992) (ADR: LNVGY) is a US$34 billion personal technology
company - the largest PC maker worldwide and an emerging PC Plus leader
- serving customers in more than 160 countries. Dedicated to building
exceptionally engineered PCs and mobile internet devices, Lenovo's
business is built on product innovation, a highly-efficient global
supply chain and strong strategic execution. Formed by Lenovo Group's
acquisition of the former IBM Personal Computing Division, the company
develops, manufactures and markets reliable, high-quality, secure and
easy-to-use technology products and services. Its product lines include
legendary Think-branded commercial PCs and Idea-branded consumer PCs, as
well as servers, workstations, and a family of mobile internet devices,
including tablets and smartphones. Lenovo, a global Fortune 500 company,
has major research centers in Yamato, Japan; Beijing, Shanghai and
Shenzhen, China; and Raleigh, North Carolina. For more information see www.lenovo.com.
About Unwired Planet
Unwired Planet, Inc. (NASDAQ: UPIP) is the inventor of the Mobile
Internet and a premier intellectual property company focused exclusively
on the mobile industry. The company's patent portfolio includes
technologies that allow mobile devices to connect to the Internet and
enable mobile communications. The portfolio spans 2G, 3G, and 4G
technologies, as well as cloud-based mobile applications and services.
Unwired Planet's portfolio includes patents related to key mobile
technologies, including baseband mobile communications, mobile browsers,
mobile advertising, push notification technology, maps and location
based services, mobile application stores, social networking, mobile
gaming, and mobile search. Unwired Planet is headquartered in Reno,
Nevada. References in this release to Unwired Planet may be to Unwired
Planet, Inc. or its subsidiaries.
Cautionary Note Regarding Forward Looking Statements
Any statements in this press release with respect to future events or
expectations, including statements regarding the Company's licensing
activities and expectations regarding enhancing shareholder value are
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934 and Section 27A of the Securities Act of
1933. These forward-looking statements are subject to many risks and
uncertainties that could cause actual results to differ materially from
those projected. Notwithstanding changes that may occur with respect to
matters relating to any forward looking statements, Unwired Planet
assumes no obligation to update the forward-looking statements included
in this press release. For a detailed discussion of these and other
factors that may cause these forward looking statements not to come
true, please refer to the risk factors discussed in Unwired Planet's
filings with the U.S. Securities and Exchange Commission, including the
company's Annual Report on Form 10-K for the fiscal year ended June 30,
2013. These documents are available at www.sec.gov
or from Unwired Planet's website at www.unwiredplanet.com.
The Blueshirt Group
Mike Bishop, +1
Brion Tingler, +1 917-528-1992
Angela Lee, +852 2516-4810
Source: Unwired Planet, Inc.
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