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InterDigital makes binding offer for Technicolor’s Research and Innovation assets

Technicolor said the proposed deal fits into its efforts to "focus resources solely on operating businesses"

Mobile technology research and development company InterDigital has made a binding offer to Technicolor’s research and innovation assets. The company previously acquired Technicolor’s patent licensing business in July 2018.

According to Technicolor, the proposed deal fits into its efforts to “focus resources solely on operating businesses.”

If the deal goes through, InterDigital says it would become a leader in both wireless and video research, with R&D-backed portfolios addressing the mobile, consumer electronics, IoT, and other markets.

The transaction is expected to close in mid-2019, subject to customary closing conditions.

“Acquiring R&I is a decisive step in the creation of InterDigital’s video R&D and licensing business, which began with the acquisition of Technicolor’s licensing business last year. With this transaction, InterDigital creates an extraordinarily powerful research engine that will deliver fundamental innovation into two major markets: the wireless market, our longtime leadership area, and the video, display and consumer electronics market, a market with roughly the same revenue potential as the wireless market and which is a greenfield opportunity for us. Equally important, this transaction does not affect our commitment to diligent cost control and high operating leverage,” said William J. Merritt, president and CEO of InterDigital.