RealNetworks (RNWK) Completes $120M Asset Sale to Intel (INTC); Doesn't See Material Impact

April 5, 2012 5:34 PM EDT
n April 5, 2012, RealNetworks, Inc. (Nasdaq: RNWK) completed the sale of certain patents, patent applications and related rights held by the Company and certain assets of the Company relating to its Next Generation Video codec technologies to Intel Corporation (Nasdaq: INTC) pursuant to the Asset Purchase Agreement, dated as of January 26, 2012, between the Company and Intel.

In accordance with the Asset Purchase Agreement, Intel acquired the Patent Assets and Codec Assets for a cash purchase price of $120,000,000 and the assumption of certain liabilities of the Company. In addition, pursuant to the license agreement, dated as of January 26, 2012, between Intel and the Company, as of April 5, 2012, Intel granted to the Company a non-exclusive, royalty-free, fully paid up, irrevocable (except as set forth in the License Agreement) and worldwide license (without the right to grant sublicenses) under the Patent Assets for use in connection with the Company’s businesses.

RealNetworks retains certain rights to continue to use the patents in current and future products and does not expect the sale will have any material impact on its businesses.

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