Press releases

Jeantet, Bredin Prat, Cravath and Wilson Sonsini on the acquisition by InterDigital of more than 21.000 patents of Technicolor

Karl Hepp de Sevelinges , Yvon Dréano , Sophie Merlet , Robert d’Orglandes , Laetitia Ternisien , Jean-Guillaume Follorou , Gabriel Di Chiara , Florent Prunet , Frédéric Sardain , Pierre Nieuwyaer

Paris, 5 March 2018, The American group InterDigital, specialist in research and development in mobile technology, entered into a sale agreement of its “patent licensing business”, for an estimated value of 475 million dollars.

The agreement provides that InterDigital will pay Technicolor 150 million dollars in cash up front. Technicolor shall also receive 42,5% of all future cash receipts from InterDigital’s new licensing efforts in the consumer electronic field, estimated at approximately 215 million dollars.

The sale agreement includes a portfolio of over 21.000 patents of Technicolor, as well as Technicolor’s interests in the joint-venture with Sony in the field of digital television and computer screens. The employees of Technicolor’s patent licensing business will be integrated into InterDigital.

The signing of a cooperation agreement between InterDigital and Technicolor regarding research and development in fields including video coding, connected home and immersive technologies shall follow. The conclusion of perpetual licenses agreement, allowing Technicolor to operate its remaining activities, is expected as well.

InterDigital was advised by Jeantet with a team lead by Karl Hepp de Sevelinges and Yvon Dréano (partners), Sophie Merlet and Robert d’Orglandes in M&A, Laetitia Ternisien (counsel) in employment law, Jean-Guillaume Follorou (partner) and Gabriel di Chiara in tax, Florent Prunet (partner) in competition, Fréderic Sardain (partner) and Pierre Nieuwyaer in IP.

The firm Wilson Sonsini Goodrich & Rosati has worked closely with Jeantet on US law aspects (Martin Korman, Mark Holloway and Emma Sarkisyan). Technicolor was advised by the firms Bredin Prat (Sophie Cornette de Saint Cyr, Sébastien Prat and Thomas Priolet) and Cravath Swaine & Moore (Damien Zoubek, George Stephanakis, Devon Klein), as well as by Ernst & Young for tax (Claire Acard).