RealNetworks Sells Next-Gen Video Codec And Select Patents To Intel
"Selling these patents to Intel unlocks some of the substantial and unrealized value of RealNetworks assets," said Thomas Nielsen, RealNetworks President and CEO. "It represents an extraordinary opportunity for us to generate additional capital to boost investments in new businesses and markets while still protecting our existing business. 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.
"We look forward to working with Intel to support the development of the next-generation video codec software and to expanding our relationship into new products and markets," said Nielsen.
RealNetworks does not anticipate that the sale of the approximately 190 patents and 170 patent applications and next generation video codec software will have any material impact on its businesses. RealNetworks businesses include a wide variety of SaaS products and services provided to global carriers, RealPlayer, the Helix streaming media platform, GameHouse online and social games, SuperPass and other media products and services sold both directly to consumers and through partners.
If Intel's willing to drop this much money here, one has to wonder how it'll impact their upcoming products and services...