Mindspeed Sells Patents

Newport Beach-based chip provider Mindspeed Technologies said this morning that it has sold off a number of its patents in a $10M intellectual property sale. According to Mindspeed, the "legacy" patent sale includes $7.5M recorded in its fiscal fourth quarter 2010 revenues, and $2.5M which will be reported in its first quarter of 2011. Name of the buyer of the patents was not disclosed, nor were the specific patents covered in the sale.