Unova sells approximately 150 of its domestic and foreign patents and patent applications to Broadcom Corporation for $24M

December 26, 2002

1 Min Read

WOODLAND HILLS, Calif. -- UNOVA, Inc. (NYSE:UNA) today announced it has sold approximately 150 of its domestic and foreign patents and patent applications to Broadcom Corporation for $24 million. The transaction will result in a significant, one-time gain which will positively impact UNOVA's 4th quarter and full-year 2002 earnings. The patents purchased relate to wireless local-area networking and wireless communications including dual-radio access points and hierarchical networks. In addition, Broadcom purchased UNOVA's patents for dynamically switchable power supplies and personal video recorders. Under terms of the agreement, Broadcom will grant UNOVA a royalty-free license to manufacture and sell Intermec products related to the purchased patents. Broadcom Corp. Unova Inc.

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