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TECHNOLOGY INDUSTRY NEWS
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Mindspeed earns $5.3 million in patent sale

The Newport Beach-based company will report the deal as revenue in its fourth quarter.

By OC METRO staffPublished: October 07, 2010 02:33 PM

Newport Beach-based Mindspeed Technologies Inc. has sold $5.3 million worth of its legacy patents.

Other terms were not disclosed.

The firm, which develops semiconductor technologies for communications applications in the wired and wireless network infrastructure, will report the sale as revenue in its fourth quarter, which ended Oct. 1.

The newest deal comes in addition to a $10 million patent sale completed in July – $7.5 million of that also will be added as revenue in the quarter.

In total, about $13 million in patent sales will be reported.

“We are excited to further bolster our liquidity position with these additional legacy patent sales, which put the company in its strongest net cash position in over five years,” said Bret Johnsen, Mindspeed's chief financial officer.

Mindspeed had $34.1 million in cash at the end of the third quarter, which ended July 2.

The company plans to report its fourth quarter results on Nov. 1.

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