Nvidia and Intellectual Ventures Team Up for Patent Acquisition
Orange County – Nvidia and Intellectual Ventures recently acquired about 500 patents related to wireless communications. The companies split the cost of the patents which were purchased from IPWireless. IPWireless’ parent company IPW Holdings was recently purchased by General Dynamics. In its agreement with Nvidia and Intellectual Ventures, IPWireless will still have “royalty-free” access to the purchased patents which include 3G/4G Long Term Evolution also known as ‘LTE’ technologies.
Nvidia has continued to grow in the ‘technology chip’ market and is broadening its portfolio from PC graphics processors to wireless networking chips. Nvidia’s executive vice president and general counsel David Shannon stated “This acquisition complements our ownership of extensive fundamental patents in graphics, visual and mobile computing,” and “these patents, acquired in collaboration with Intellectual Ventures, will help support our rapidly expanding efforts in the mobile business.”
Nvidia is following in the footsteps of many technology giants today such as Apple, Facebook, and Google who are working to expand their intellectual property portfolios by purchasing patents in bulk from other companies. Nvidia’s David Shannon summed up the importance of a strong portfolio by saying, “The acquisition of IP is a strategy every company is using right now. There are a lot of wars going on in this space, and it’s always good to have more assets to defend across those kinds of wars.”
These 500 patents are not the only major purchase by Nvidia. Last year Nvidia purchased Icera, a radio chips company based out of the UK, for $367 million. It has been said that Nvidia is closely following the actions of Qualcomm which is the current market leader for processing smartphone chips.
Shannon of Nvidia stated that he was approached by IPWireless who was shopping around for potential buyers of its patents and that’s when he contacted Nathan Myhrvold, Founder and CEO of Intellectual Ventures, whose goal is to “invent and invest in inventions”. After retiring from Microsoft Corporation, Myhrvold founded Intellectual Ventures which owns “tens of thousands” of patents.
A representative of Intellectual Ventures, Loria Yeadon stated, “This investment provides efficient access to important inventions and standards-essential patents and reinforces our leadership role in building an active market for invention.”
Posted in: Patent Registration