Canada based patent licensing firm Mosaid has acquired Core Wireless for an unspecified amount, which gives it access to 2,000 wireless patents that were originally filed by Nokia.
The company, which plans to run Luxembourg based Core Wireless as a wholly owned subsidiary, said that with the acquisition it is getting 400 patent families which comprise of 2,000 patent and patent applications related to wireless technology.
The acquisition comes at a time when tech giants are scrambling to acquire patents related to tablet and mobile wireless technology either to thwart competition or protect themselves from litigation, the most recent example of this being Google’s proposed $12.5 billion acquisition of Motorola, which gives it access to more than 10,000 patents.
“This is a transformative event for MOSAID which will drive significant revenue growth and shareholder value over the next decade, and will create exciting new opportunities for MOSAID as one of the world's premier licensing organizations," said John Lindgren, President and CEO, Mosaid Technologies.
“This is one of the strongest standards-essential wireless portfolios available on the market, and we are thrilled that we have acquired this outstanding portfolio and have the opportunity to monetize it," said Lindgren.
Mosaid said that 1,200 patents out of the 2,000 strong batch are related to GSM (Global Systems for Mobile communications), UMTS / WCDMA (Universal Mobile Telecommunications Service / Wide-Band Code Division Multiple Access) and LTE (Long Term Evolution) technologies.