The world's largest contract electronics manufacturer, Taiwan's Hon Hai Precision Industry, has sold a number of communications technology patents to Google.
Google has already made a serious foray into the consumer electronics hardware market. The company recently bought Nest, the digital “smart” thermostat company, for $3.2 billion. At the time, industry watchers speculated that Nest would become Google's core hardware group.
Hon Hai, more commonly known by the trade name Foxconn, has been looking to maximize the value of its intellectual property portfolio. Hon Hai did not disclose the financial terms or other details about the transaction. The intangible assets of Hon Hai Precision Industry were sold through U.S.-based MiiCs & Partners, a firm specializing in intellectual property programs and portfolios. Hon Hai retained MiiCs & Partners to help it map out intellectual property development strategies and monetize the assets.
At the time of the announcement Hon Hai said it remains committed to investing in technology research and development, and to transforming these investments into valuable intellectual property assets.
So far, Hon Hai Precision Industry has applied for more than 128,400 patents worldwide and has been granted more than 64,300. In Taiwan, Hon Hai Precision filed for a total of 3,086 patent applications in 2013, the most for that country.
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