PIXELWORKS, INC. (NASDAQ:PXLW) Files An 8-K Other Events
Item 8.01.Other Events
On December 21, 2018, Pixelworks, Inc. (the “Company”) and an unrelated third party (the “Purchaser”) entered into an agreement in which the Company sold 48 patents and related rights and materials (the “Patents”) to the Purchaser for $4.25 million. All of the Patents were originally obtained by the Company during its August 2017 acquisition of ViXS Systems, Inc., and the underlying technologies pertain to markets that the Company no longer pursues. The Company expects to record a gain of approximately $3.9 million in the first quarter of 2019 on the sale of the Patents, which is net of closing costs.
About PIXELWORKS, INC. (NASDAQ:PXLW)
Pixelworks, Inc. designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom application specific integrated circuit (ASIC) solutions for digital video applications. The Company is engaged in the design and development of integrated circuits (ICs) for use in electronic display devices. It provides its customers with software development tools and with software that provides basic functionality for its ICs and enables connectivity of its customers’ products. Its primary target markets include digital projection systems, Ultrabook devices, tablets and smartphones. Its video display processing technologies include Halo Free Motion Estimation and Motion Compensation (MEMC), Advanced Scaling, Mobile Video Display Processing, and Vuemagic and Networked Displays. Its primary video display processor product categories include ImageProcessor ICs, Video Co-Processor ICs and Networked Display ICs.
