A Patent Troll Is Born: Openwave Becomes Unwired Planet

0

 

34

 

 

6

 

1

 

1

 

The new logo.

Unwired Planet, the company previously known as Openwave Systems, this morning said it has completed the sale of its Mediation and Messaging product lines to the investment firm Marlin Equity Partners.

The company said it now will be “focused exclusively on a multi-pronged intellectual property strategy that includes licensing and, if necessary, enforcement to protect its patent portfolio of approximately 200 issued U.S. and foreign patents, and approximately 75 pending applications, many of which are considered foundational to mobile communications.”

The old businesses have been re-launched as two private companies, Openwave Mobility and Openwave Messaging.

“We are pleased to close the sale of our product businesses to Marlin Equity Partners, and begin a new phase as Unwired Planet, a name which recalls the formative years when many of our foundational mobile communications patents were issued,” CEO Mike Mulica said in a statement. “Unwired Planet will now solely be focused on executing its multi-pronged strategy to realize the value of our unique patent portfolio.”

Unwired Planet, still sporting its old stock ticker OPWV, is up 23 cents, or 8.9%, to $2.82.