Alvarion gets 8.3 million second payment of patent sale
Nov 09, 2012 (Menafn - TELECOMWORLDWIRE via COMTEX) --Alvarion Ltd. ALVR said it received an additional 8.3 million in connection with its sale of patents to Wi-LAN Inc., following receipt of an approval of the Office of the Chief Scientist in Israel (OCS).
The third part of the transaction for the sale of patents to Wi-LAN, for which Alvarion will be paid an additional amount of up to 2.2 million, is subject to a separate review and approval by the OCS relating to a smaller number of patents and patent applications.
On October 1, 2012, Alvarion announced the sale of part of its IP portfolio to Wi-LAN for up to 19 million, of which 8.5 million was paid to Alvarion at the closing.
Alvarion Ltd. provides optimized wireless broadband solutions addressing the connectivity, coverage and capacity challenges of telecom operators, smart cities, security, and enterprise customers.
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