IP development company Spherix Incorporated announced on July 17 that it had agreed to acquire a suite of patents from non-practising entity Rockstar Consortium.
The value of the patents has not been disclosed, but in a statement Spherix said the acquisition will “substantially increase” its IP portfolio and “enhance its opportunities for revenue generation.”
Spherix’ chief executive Harvey Kesner said: “We are very excited to partner with Rockstar. Spherix’s acquisition is even more significant because in addition to this suite of patents Rockstar has agreed to become a shareholder of Spherix.”
He added that Spherix expects to bring its first action against known infringers in 30 to 60 days.
Earlier this month Spherix announced it expected to close a transaction with North South Holdings within 60 days. The transaction involves the transfer of 222 patents developed by communications company Harris Corporation, and is hoped to expand Spherix’ activities in wireless communications and the telecommunication sectors.
Rockstar is jointly owned by Apple, Microsoft, RIM, Ericsson and Sony. It was established in 2011, when the company bought defunct telecommunications company Nortel Networks’ portfolio of more than 4,000 patents, which cover networking, communications, and Internet technologies, for $4.5 billion.
Neither Spherix nor Rockstar responded to requests for comment.
Spherix, Rockstar, NPEs, Nortel