Technicolor has confirmed it has received a binding offer and entered into exclusive negotiations with InterDigital, a mobile technology research and development company, for the sale of its Research & Innovation activity.
InterDigital acquired Technicolor’s Patent Licensing business in 2018.
Frederic Rose, Chief Executive Officer of Technicolor, commented: “This proposed transaction continues the simplification of the Group’s structure while ensuring that its R&I teams join a world class technological organisation. As a result, Technicolor will henceforth be able to focus its resources solely on its operating businesses.”
The transaction would be structured as an asset purchase with a concurrent R&I cooperation agreement.