Unwired Planet said it sold a portfolio of patents to Chinese technology company Lenovo for $100 million in cash, sending its shares up 73% in trading after the bell.
Unwired, an intellectual property and technology licensing company, said the portfolio included patents for 3G and LTE mobile technologies.
Lenovo has been making a big push into the smartphone market as the broader desktop PC market shrinks and computer users go mobile.
It recently bought Google’s Motorola Mobility handset unit for $2.91 billion in the fourth-largest US acquisition by a Chinese or Hong Kong company ever in Jan this year.
Unwired’s shares jumped to $2.25 in after-market trade after closing at $1.30 on the Nasdaq on Thursday.