Google Buys Magnolia Broadband’s Patents
According to an announcement from investment bank Mooreland Partners, the search behemoth has purchased a portfolio of patents from Magnolia Broadband, a fabless semiconductor company. According to the USPTO, Magnolia has 28 issued patents and 24 patents pending in the United States, many related to wireless data transmission.
Reached for comment, Google confirmed to AllThingsD that it has indeed acquired Magnolia’s patents, but it declined to provide the price it paid for them or its reason for buying. Said a company spokesperson, “Like many tech companies, at times we’ll acquire patents that are relevant to our business needs.”