OTTAWA - Mosaid Technologies will double the number of patents under management to more than 12,500 through deals with two global technology companies and is changing its name to Conversant Intellectual Property Management.
The Ottawa-based patent licensing company, which was taken private in 2011 in a $590-million deal, didn't name the companies but said they're headquartered in the U.S. and Asia. Conversant said the deal adds more than 6,600 patents and patent applications.
In addition, Conversant said it was negotiating with tech company Qimonda AG of Germany to provide exclusive licensing services for Qimonda's patent portfolio of approximately 7,500 patents and applications.
Conversant was taken private by a group of investors led by Chicago-based Sterling Partners. Since then, Sterling and its investors have increased their stake in the intellectual property sector.
"In today's knowledge economy, patent portfolios worth billions of dollars are bought, sold and licensed every year," president and CEO John Lindgren said in a news release.
"Companies with extensive patent holdings are turning to specialized intellectual property management firms such as Conversant to help them realize full value from their patented inventions," he said.
Conversant has grown dramatically in the last five years, tripling its employee base and quintupling the number of patents under management.
Note to readers: This is a corrected story: A previous version said one of the global tech companies was headquartered in Canada