Google might not be interested in the wireless patents
Shares of InterDigital fell 23 percent after Google's $12.5 billion Mobility Holdings buy.
World on the street was that the search giant may no longer be interested in the company's wireless patents. InterDigital's patents became important after Apple, Microsoft, RIM and three other companies outbid it in a multi-billion dollar auction for Nortel's wireless patents.
InterDigital said it was looking at a possible sale of the company and the Wall Street Journal had later reported that Google might be in the race for its patents. However fears are that Google prefers the Motorola patents over the IDCC patents and might not be interested in the outfit any more. Last month InterDigital filed a complaint against Nokia Corp, Huawei Technologies Co Ltd and ZTE Corp, accusing the cellphone makers of infringing seven patents.
Others think that Google will still being interested in InterDigital as the company can not have enough patents. The reasons they would be interested in Interdigital are still mostly intact. Some of InterDigital's patents are essential for international telephony and will not overlap with those that the Motorola buy will bring home to Google.
InterDigital, which has a market value of $3.44 billion, should be worth $5 billion.