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WirelessDevNet.com Press Release
Mindspeed Enters into Agreement for $10 Million Sale of Intellectual Property
Newport Beach, CA - Mindspeed Technologies, Inc., a leading supplier of semiconductor solutions for network infrastructure applications, today announced that it entered into an agreement for the sale of certain legacy patents for $10 million, of which $7.5 million should be reported in the company's fiscal fourth quarter of 2010 revenues and the remaining $2.5 million should be reported in the company's fiscal first quarter of 2011. The patent sale agreement does not include potential future Mindspeed revenues derived from licensing royalties. Specific terms of the sale are confidential.
About Mindspeed Technologies
Mindspeed Technologies, Inc. designs, develops and sells semiconductor solutions for communications applications in the wireline and wireless network infrastructure, which includes today's separate but interrelated and converging enterprise, broadband access, metropolitan and wide area networks. Our products are classified into three focused product families: communications convergence processing, high-performance analog and wide area networking communications. Our products are sold to original equipment manufacturers (OEMs) for use in a variety of network infrastructure equipment, including voice and media gateways, high-speed routers, switches, access multiplexers, cross-connect systems, add-drop multiplexers, digital loop carrier equipment, IP private branch exchanges (PBXs), optical modules, broadcast video systems and wireless base station equipment.
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