Conexant Sells Wireless Intellectual Property for $15 Million

NEWPORT BEACH, Calif., October 21, 2008 – Conexant Systems, Inc. (NASDAQ: CNXT) today announced that it has sold certain domestic and international wireless patents for approximately $15 million. The company also said that it retained the right to incorporate the wireless intellectual property in any current and future products. In November 2007, the company announced that it was discontinuing further investments in standalone wireless networking product development.

“The sale of intellectual property associated with a business we stopped investing in a year ago is consistent with our ongoing strategy to strengthen our balance sheet and improve our liquidity by monetizing non-core assets,” said Scott Mercer, Conexant chairman and chief executive officer. “These kinds of transactions provide us with the flexibility of using the proceeds to retire debt or to help fund acquisitions that augment our product-development efforts.”

No further details of the transaction were provided.

About Conexant

Conexant’s comprehensive portfolio of innovative semiconductor solutions includes products for imaging, video, audio, and Internet connectivity applications. Conexant is a fabless semiconductor company that recorded revenues of $574 million in fiscal year 2007. The company is headquartered in Newport Beach, Calif. To learn more, please visit www.conexant.com

 

Contact:

Gwen Carlson
Conexant Systems, Inc.
Tel.: (949) 483-7363




Review Article Be the first to review this article

Airbus

Featured Video
Jobs
GIS Analyst II for Air Worldwide at Boston, MA
Business Partner Manager for Cityworks - Azteca Systems, LLC at Sandy, UT
Senior Structural Engineer for Design Everest at San Francisco, CA
Mechanical Engineer for IDEX Corporation at West Jordan,, UT
Upcoming Events
SPTechCon 2016, Dec 5 - 8, 2016, San Francisco, CA at San Francisco CA - Dec 5 - 8, 2016
RoboUniverse San Diego at San Diego CA - Dec 14 - 15, 2016
DGI 2017 at QEII Centre London United Kingdom - Jan 23 - 25, 2017
Trimble
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy