Nokia Sells Over 450 Patents To Sisvel, 350 Are Essential
In case you didn’t hear about Sisvel, it is a company which was founded in Italy and has become “a world leader in managing intellectual property and maximizing the value of patent rights”. The Sisvel Group has companies in Italy, U.S.A., China, Japan, Germany and Luxembourg.
Above mentioned Sisvel managed to acquire over 450 patents belonging to Nokia, including over 350 patents which are essential to wireless standards. The patents in case are part of 47 patent families, 33 of which contain over 350 patents “declared essential by Nokia to second, third and fourth-generation communications standards”, including GSM UMTS/WCDMA and LTE.
“Acquiring the many essential patents in this key portfolio is a very significant step for Sisvel and a testament to Sisvel’s commitment and determination to succeed in this space. We look forward to offering these essential patents on FRAND terms and to continuing our work within the wireless industry“, said Giustino de Sanctis, CEO of Sisvel International.
The commercial value of the acquisition is not known and so is the reason behind Nokia’s decision to alienate such a vast portfolio of intellectual property. However, “the acquired patents remain subject to certain prior agreements and Nokia is licensed under the portfolio as part of the acquisition”.