Apple and several other tech companies are looking at acquiring Inter Digital Inc, as companies race against each other to acquire large numbers of patents to fight their corners in the industry.
According to the Reuters news agency, sources close to the auction have revealed that leading tech companies Apple Inc, Nokia Corp and Qualcomm are among the interested parties who will bid to acquire wireless technology expert InterDigital Inc.
The auction, which has been delayed until Labor Day (Sept 5th), will be a highly competitive bid as InterDigital Inc owns a huge portfolio of around 8,800 patents, including crucial patents related to 3G and 4G technology.
“Shares in InterDigital, which has a market value of about $3 billion, leaped as much as 12.2 percent on the news. But it quickly backtracked and was up $4.38 or 6.8 percent at $68.41 in afternoon trade,” Reuters reports.
Initially, Google and Apple were considered to be potential bidders for the wireless telecom specialist, however, Google’s latest announcement of its plan to acquire Motorola Mobility Inc earlier this week, has raised doubts whether Google will bid for InterDigital.
News of Motorola’s acquisition saw a drop in the shares of InterDigital by 23 per cent on Monday.