Aware (Nasdaq: AWRE) Up 60%; Selling WiFi, LTE Patents To Intel (NYSE: INTC) For $75M
Posted on April 27, 2012 at 10:01 AM EDT
Orlando, FL 4/27/12 ( StreetBeat ) -- Aware Inc. ( Nasdaq: AWRE ) this morning said It has agreed to sell a group of patents and patent applications to Intel ( NYSE: INTC ) for $75 million. The patents are in the areas of WiFi, LTE and wireless home networking. Aware this morning also declared a special dividend of $1.15 a share. Aware, a Bedford, Mass., technology company with products in biometrics software and DSL service assurance, this morning also announced Q1 results. For the period, Aware reported revenue of $5.7 million, down 10% from a year ago, with profits of 5 cents a share up from 3 cents a year earlier. The patent deal is quite a windfall for Aware; as of yesterday the company had a market cap of just $77 million – so $75 million is looking like a pretty fat payday for those patents. Ergo, AWRE this morning is up $2.26, or 60.4%, to $6. Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling. StreetBeat Disclaimer Distributed by Viestly
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