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.
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.