Intellectual Ventures Buys Avistar Patents

1/27/10Follow @gthuang

Bellevue, WA-based Intellectual Ventures has agreed to pay $11 million upfront to acquire the majority of the patent portfolio of San Mateo, CA-based Avistar, a video-conferencing technology firm. The deal calls for Avistar to receive a full grant back license that protects its products under these patents. Earlier this month, Intellectual Ventures, the invention firm led by CEO Nathan Myhrvold, announced it had hired Adriane Brown as its new president and chief operating officer.

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and the Editor of Xconomy Boston. You can e-mail him at Follow @gthuang