Intel today announced that certain of InterDigital Inc's subsidiaries have signed a definitive agreement to sell to Intel roughly 1,700 patents and patent applications for $375 million in cash. The agreement involves patents primarily related to 3G, LTE and 802.11 technologies. InterDigital is a developer of wireless technologies including WCDMA (Wideband CDMA), HSDPA (High Speed Download Packet Access) and HSUPA (High Speed Upload Packet Access) 3G technologies as well as LTE (Long Term Evolution) and LTE-Advanced 4G technologies.

"These patents will support Intel's strategic investments in the mobile segment," said Doug Melamed, Intel Senior Vice President and General Counsel.

The companies expect the transaction to be completed in third quarter 2012, subject to customary closing conditions and any required regulatory approvals.