Seattle-based RFID developer Impinj has announced the sale of its non-volatile memory intellectual property, including more than 50 patents, to integrated circuit designer Virage Logic for $5.2 million. The sale leaves Impinj free to focus solely on RFID technology.
Impinj officials say that the non-volatile memory IP business has quickly grown away from the core RFID operations, and non-RFID markets increasingly require designs that do not work as well for RFID, leaving fewer opportunities to leverage product developments. Impinj will continue to use the non-volatile memory technology it developed in its RFID chips under a supply agreement with Virage Logic.
Proceeds from the sale will be used to fund ongoing research and development and marketing activities. The cash joins $14 million in venture funding the company announced in January.
Accompanying the NVM IP to Virage Logic’s California headquarters will be approximately 30 Impinj employees, leaving a staff of around 120 at the RFID developer. ![[end]](/resources/bullet/archive-4.gif)
