By Tom Paine
While InterDigital's $375 million patent sale to Intel received most of the attention [in the Philadelphia area] yesterday, there was another mobile technology patent sale by an area firm to a prominent buyer.
Warren, NJ-based Magnolia Broadband, Inc. has sold its "beam forming Mobile Transmit Diversity" (“MTD”) patent portfolio, including more than 50 patents, to Google, the company announced yesterday.
These patents cover "methods for increasing spectrum utilization (network capacity), expanding coverage, improving uplink transmission speeds at the cell edge, and improving device battery life", Magnolia said in a statement.
The software developed in relationship to those patents remain the property of Magnolia. Terms were not disclosed.
Maagnolia said the proceeds from the sale will help finance its on-going R&D.; Venture capital firm SCP Partnersof Wayne, PA is Magnolia's largest shareholder.
Yaron Eitan, Chairman of the Board of Magnolia Broadband, Inc. is also a Partner in SCP Partners, an interesting though fairly quiet firm headed by Managing General Partner Winston J. Churchill (no relation to the former Prime Minister). SCP Partners says it has $1 billion under management.
Reposted with permission of Philly Tech News. The original post appeared 6/19/2012 here.