No Buyer for InterDigital, Concludes ReviewNo Buyer for InterDigital, Concludes Review

Board affirms and expands business strategy to include patent sales and licensing partnerships following failure to find buyer

January 24, 2012

2 Min Read

KING OF PRUSSIA, Pa. -- InterDigital, Inc. (NASDAQ: IDCC) today announced that its Board of Directors has concluded its review of strategic alternatives for the company. Following a comprehensive process, the Board determined that it was in the best interests of the company and its shareholders to execute on the company's business plan and to expand the plan to include patent sales and licensing partnerships.

"We entered into the review of strategic alternatives from a position of strength, in terms of both our patent portfolio and our balance sheet," commented Terry Clontz, Chairman of InterDigital's Board of Directors. "The process over the past six months, although not resulting in an offer for the whole of the company, has helped to reaffirm our belief in the breadth and depth of the patent portfolio, the strength of the R&D team, and our technology vision for the future. The Board believes the company and its shareholders are best served by our continued focus on the development of wireless technologies, and the monetization of those assets through vigorous and comprehensive patent licensing and sales efforts."

Over the past three decades, InterDigital's R&D team has developed fundamental wireless technologies that have shaped the cellular industry and has built a portfolio of over 19,500 patents and patent applications as of December 31, 2011 — one of the largest portfolios of cellular-related patents in the wireless industry. Moreover, InterDigital's inventions are used in every cellular device that ships today. As of December 31, 2011, the company has disclosed to the European Telecommunications Standards Institute approximately 50 percent of its worldwide patents and patent applications based on the company's belief, at the time of disclosure, that these patents are or may be or may become essential to wireless communications standards.

Furthermore, InterDigital's substantial portfolio of patented inventions continues to grow. During 2011, the company filed approximately 140 new patent applications with the U.S. patent office, covering its inventions related to the next generation of advanced wireless networks. The company was also granted approximately 170 new U.S. patents and approximately 1,000 non-U.S. patents in 2011, positioning it as one of the leading inventors in wireless technology.

InterDigital Inc. (Nasdaq: IDCC)

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