Intellectual property and advisory firm Pendrell Corporation today announced that it has acquired 125 memory technology patents and applications from Nokia, while 81 among it have been declared by Nokia as to be essential to applicable standards. The global market for these combined memory technologies is projected to exceed $12 billion in 2013, and industry analysts project the market for SD cards alone to exceed $21 billion in 2018.
“Our acquisition of these Nokia patents together with the formation of Helsinki Memory Technologies uniquely illustrates the deep connection that strong, transferrable and enforceable IP rights have with promoting investment in research and development,” commented Joseph Siino , chief intellectual property officer for Pendrell. “As with our other portfolios, the patents we have acquired from Nokia provide the basis for ongoing innovation, and also allow us to offer these inventions to IP-respecting companies worldwide on fair and reasonable terms.”
“We are pleased that our patent sale to Pendrell has enabled the launch of Helsinki Memory Technologies here in Finland to continue the fundamental research and development work that Nokia has done over the past fifteen years,” commented Paul Melin , chief intellectual property officer for Nokia. “We expect that Pendrell’s world-class expertise in IP strategy and licensing will also create a meaningful path to further commercialization of these technologies, with proceeds enabling continuing investment in R&D by Helsinki Memory Technologies.”