Irvine Sensors Gains $9.5M In Patent Sale

Costa Mesa-based Irvine Sensors reports this morning that it will gain $9.5M in cash in a deal to sell most of its patents and patent applications. According to Irvine Sensors, the deal--originally announced in December--calls for its to sell the patents to Aprolase Development Co., which will also license the patented technology back to Irvine Sensors. The firm said it has royalty-free, worldwide use of the patents sold to Aprolase. Irvine Sensors develops miniaturized cameras, image processors, and other semiconductor products.