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Vringo, Inc.
VRNG, a company engaged in the innovation,
development and monetization of mobile technologies and intellectual property,
today announced that it had entered into a Patent Purchase Agreement with
Nokia Corporation pursuant to which Nokia agreed to sell Vringo a portfolio
consisting of over 500 patents and patent applications worldwide, including
109 issued United States patents. Vringo agreed to compensate Nokia with a
cash payment and certain ongoing rights in revenues generated from the patent
portfolio.
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