Unwired Planet +68.5% AH on $100M patent sale to Lenovo

|About: Lenovo Group Ltd. ADR (LNVGY)|By:, SA News Editor

Lenovo (LNVGY) is buying 21 patent families from Unwired Planet (UPIP), including ones related 3G and 4G networks.

The deal gives Lenovo, now the world's #5 smartphone vendor (could be #3 after the Motorola Mobility deal closes), more negotiating leverage in cross-licensing deals.

Unwired Planet says it will still have 2.5K issued and pending patents once the deal closes. The company's market cap was only $142.4M as of today's close.

CC at 8:30AM ET tomorrow.