France-based INSIDE Secure is planning to sign a new agreement to transfer its next-generation NFC modem technology to Intel Corporation.
Under the deal, INSIDE Secure will expand the perpetual license into free and fully paid-up license for retaining ownership of IP assets and rights.
Go deeper with GlobalData
The agreement will allow INSIDE Secure to transfer its MicroRead-v5 next-generation NFC hardware and software modem technology to Intel.
As part of the transaction, INSIDE Secure will receive $19.2m in cash from Intel at closing. Additionally, the deal will offer employment to certain INSIDE Secure employees based in France and California.
The transaction, which is subject to customary signing and closing conditions, is expected to come into effect upon completion of information and consultation process with INSIDE Secure’s works council in France.
INSIDE Secure said that the transaction is fully compliant with its strategy to address the NFC market through licensing programs; to continue supporting its legacy microcontroller NFC business and existing customers, and; to develop hardware platforms for mobile and other connected devices.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
