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

Featured Video
Editorial
Jeff RoweJeff's MCAD Blogging
by Jeff Rowe
Siemens Goes ECAD With Mentor Graphics Acquisition
Jobs
Mechanical Engineer for IDEX Corporation at West Jordan,, UT
Business Partner Manager for Cityworks - Azteca Systems, LLC at Sandy, UT
Senior Structural Engineer for Design Everest at San Francisco, CA
GIS Analyst II for Air Worldwide at Boston, MA
Upcoming Events
Design & Manufacturing, Feb 7 - 9, 2017 Anaheim Convention Center, Anaheim, CA at Anaheim Convention Center Anaheim CA - Feb 7 - 9, 2017
Innorobo 2017 at Docks de Paris Paris France - May 16 - 18, 2017
Display Week 2017 at Los Angeles Convention Center 1201 S Figueroa St Los Angeles CA - May 21 - 26, 2017
SolidCAM: Program your CNCs directly inside your existing CAD system.



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 GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise