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Technicolor's Sale of its Patent Licensing Business to InterDigital

On March 1, 2018, Technicolor, a worldwide technology leader in the media and entertainment sector, announced that it will enter into an exclusive agreement pursuant to which InterDigital, a mobile technology research and development company, irrevocably commits to acquiring its Patent Licensing business. Technicolor values the transaction at approximately $475 million, including an upfront payment of $150 million. Cravath is representing Technicolor in connection with the transaction.

The Cravath team is led by partners George A. Stephanakis, Damien R. Zoubek and Nicholas A. Dorsey and includes associates C. Daniel Haaren, Devon A. Klein, Ryan J. Patrone, Alexander Lee Abelson and Eli D. Heller on M&A matters; partner David J. Kappos, specialist attorney Anthony N. Magistrale and associate Sean M. Gholz on intellectual property matters; partner Jonathan J. Katz and associates Matthew J. Bobby, Sarah W. Colangelo and Sally Ye on executive compensation and benefits matters; partner Lauren Angelilli and associate Andrew T. Davis on tax matters; partner Timothy G. Cameron and associate Kimberly M. Jeffers on litigation matters; senior attorney Jesse M. Weiss on antitrust matters; and specialist attorney Brian M. Budnick on real estate matters.