Aware Inc. (AWRE) has agreed to sell a portfolio of patents and applications to Intel Corp. (INTC) for about $75 million, in the latest example of the industry-wide battle for technology patents.
The relevant patents are related to wi-fi, long-term evolution, or LTE, technology, and wireline home networking.
Silicon Valley heavyweight Intel, which supplies more than 80% of the chips for the world's PCs, recently reported a first-quarter earnings slump on higher expenses after seeing record results in 2011.
Intel is joining other technology heavyweights like Microsoft Corp. (MSFT), Apple Inc. (AAPL) in either seeking to leverage or acquire intellectual property.
Aware supplies software and technology to the biometrics, telecommunications and healthcare industries. The company has been transitioning to becoming primarily a software company and has been trying to sell a significant amount of its patents. It said that it is continuing to consider monetization options for other patents remaining in its portfolio.
Aware also reported Friday its first-quarter income jumped 89% to $1.12 million, despite a sales drop of 9.8%. The company said the income jump was driven by Aware's business transition, as well as lower expenses.
Aware shares closed at $3.74 on Thursday and are up 25% so far this year. Intel shares closed at $28.22 and are up 16% so far this year. Both were inactive in premarket trading.
-By Kristin Jones; Dow Jones Newswires; 212-416-2208; email@example.com