BTG plc, a London-based medical company, said Zebra Technologies Corp has exercised its option to buy the rest of its RFID patent portfolio for $3.8 million. The medical innovations group said it will receive an additional $1.4 million from the patent sale on satisfying certain conditions as reported on Sept. 25.
BTG has already received $5.8 million from Zebra relating to this option and the sale of the other RFID patents in the financial year ended March 2006. In early October 2005, BTG sold Zebra its RFID patents and technology rights for an initial $ 5.5 million and granted Zebra the option to acquire additional RFID patents.
"We are pleased with the sale of our remaining RFID patents to Zebra. This divestment is in line with our strategy to exit and realize value from our non-core technology areas whilst expanding and developing our pipeline of medical products," said Louise Makin, CEO, BTG.
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