Feb. 3, 2015, 9:10 AM
- Spherix's (NASDAQ:SPEX) board has rejected a proposal from fellow IP licensing firm Marathon Patent Group (NASDAQ:MARA) "indicating Marathon's interest in acquiring Spherix in a stock-for-stock transaction valuing Spherix at a 15% premium above the recent market price of Spherix's common stock."
- Spherix CEO Anthony Hayes: "After careful review and consideration, our Board of Directors has unanimously determined that Marathon's unsolicited proposal substantially undervalues Spherix and does not reflect the value of the Company's patent portfolio and its current business."
- SPEX +9.7% to $1.02 in premarket trading; the company currently sports a $28M market cap. Marathon has a $98M market cap; its shares are unchanged premarket.
Dec. 23, 2014, 12:46 PM
- IP risk-protection firm RPX (RPXC -0.4%) is buying most of the Rockstar Consortium's remaining patents (over 4,000 of them) for $900M - roughly a fifth of the ~$4.5B the consortium paid to buy the full portfolio in 2010 from bankrupt Nortel.
- RPX will license the patents to a syndicate of 30+ companies that includes Google and Cisco in exchange for payments. Everyone else will be able to license them under FRAND terms. RPX is only directly contributing $35M to the purchase.
- Rockstar, whose members include Apple, Microsoft, BlackBerry, Ericsson, and Sony, had launched a series of lawsuits against Android OEMs. The sale comes amid an increasingly difficult legal and political environment for IP licensing firms.
- Spherix (NASDAQ:SPEX), which bought over 100 of Rockstar's patents and patent applications earlier this year and has used them to sue Cisco, Verizon, and Huawei, is trading lower