Vringo Acquires Patent Portfolio from Nokia
August 9, 2012 – Vringo announced that they purchased a patent portfolio from Nokia that consists of over 500 patents and applications related to cellular infrastructure, including communication management, data and signal transmission, mobility management, radio resources management and services. Under the terms of the agreement, Vringo will provide Nokia with a cash payment and certain ongoing rights in revenues generated from the patent portfolio. 31 of the 124 patent families acquired have reportedly been declared essential by Nokia to wireless communication standards. Yahoo Finance reports that David Cohen, in-house counsel for Vringo, was the former senior litigation council for Nokia.