Intel Corp. last week announced a $120 million agreement to purchase patents and video codec software from RealNetworks.
The two companies also have inked a memorandum of understanding to collaborate on future support and development of video codec software and related products.
Intel is purchasing 190 patents and 170 patent applications as well as RealNetworks' next-generation video codec software.
"We believe this agreement enhances our ability to continue to offer richer experiences and innovative solutions to end users across a wide spectrum of devices, including through Ultrabook devices, smartphones and digital media," said Renee James, Intel senior vice president and general manager of the software and services group.
RealNetworks said it retains certain rights to continue to use the patents in present and future products, and the company doesn't expect the agreement will have any material impact on its businesses.
