Intel have pulled out their credit card today and swiped down a purchase of patents from RealNetworks to the tune of $120 million. RealNetworks Inc. in the agreement hand over a large number of patents, which is set to help Intel's portfolio for streaming media on not only smartphones, but laptops and other devices.
Intel will receive roughly 190 patents and 170 patent applications, as well as next-generation software that allows for the quick compression or decompression of video for streaming. RealNetworks are still allowed to use the patent in current and future products, and will now work with Intel on continued development of the software and related products.
RealNetworks Chief Executive, Thomas Nielsen, said in an interview:
To bring new technology like that [video software] to market requires significant reach into the consumer and business markets. A partner like Intel has the capacity and size to do that.
The deal created a surge in RealNetworks' share pricing, rising by 29-percent to $9.51 in recent trading. Over the past twelve months, they are down 38-percent, but this deal has helped that sag of share prices.