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Friday, Jan 11
Unwired Planet (UPIP +34.4%), formerly Openwave, soars after buying 2,185 patents and...
Unwired Planet (UPIP +34.4%), formerly Openwave, soars after buying 2,185 patents and applications related to mobile networks from Ericsson (ERIC). UPIP will also receive another 100 "patent assets" annually from 2014-2018. Ericsson has the right to 20% of the first $100M in revenue produced by the patents, 50% of the next $400M, and 70% of anything beyond. Thus, UPIP becomes another version of Rockstar Bidco to Ericsson, a vehicle for monetizing its IP without having to worry about countersuits. (8-K) (PR) (Microsoft deal)