SEATTLE (AP) — RealNetworks Inc. said Thursday that it has completed the sale of some of its patents and software to chipmaker Intel Corp. for $120 million.
The company, based in Seattle, retains certain rights to continue to use the patents in current and future products and does not expect the sale will have any material impact on its businesses.
RealNetworks, which provides software and services for digital entertainment companies, announced in January that it would sell roughly 190 patents, 170 patent applications and some software to Intel in a deal that it said unlocked the value of some of its assets.
Shares of the digital media applications and services company rose 18 cents to close at $10 on Thursday.
Shares of Intel, based in Santa Clara, Calif., rose 14 cents to close at $28.07.