Mindspeed Sells Patents

Newport Beach-based Mindspeed Technologies announced today that it has sold what it describes as "certain non-core patents" for $10M. Terms and buyers of the patents were not disclosed. Mindspeed said the patents came from a broad portfolio of patents which are no longer core to the firm's business focus. Details on the types of patents sold and number of patents was not released by the company. Mindspeed said it has been generating revenue from patent sales in the last year, and expects to engage in additional "strategic, non-core" patent sale or licensing arrangements in the future.