Patent wars between tech companies related to wireless intellectual property recently intensified. On Thursday, after Microsoft announced that is will secure licensing rights to Openwave's patent portfolio, Openwave is trading at a considerably higher rate.
About Microsoft, Openwave stated that it "becomes the first company to license Openwave's portfolio of approximately 200 patents, including several foundational patents covering smart device and cloud technologies, among others, " as reported by Forbes.
The terms and conditions of the Microsoft licensing deal have not been disclosed yet.
This past August, Openwave filed claims of patent infringement against Research in Motion (RIM) and Apple in a federal court of Delaware and with the International Trade Commission.
Financial reports about Openwave, published in Business Wire covered a first quarter performance period that ended 30th September. The revenue reported during this period was $52.4 million.
Openwave CEO, Mike Mulica, said the results of first quarter "were mixed" and the company was "clearly disappointed with our product bookings."