InterDigital Down 16.5% After Ending Its Strategic Alternative Review Process

InterDigital

is trading lower on the session following the announcement made yesterday that the company concludes its strategic alternative review process. The company determined that it is in the best interests to execute on the company's business plan and to expand the plan to include patent sales and licensing partnerships. Interdigital's Chairman Terry Clontz stated: “The process over the past six months, although not resulting in an offer for the whole of the company, has helped to reaffirm our belief in the breadth and depth of the patent portfolio, the strength of the R&D team, and our technology vision for the future. The Board believes the company and its shareholders are best served by our continued focus on the development of wireless technologies, and the monetization of those assets through vigorous and comprehensive patent licensing and sales efforts.” InterDigital is currently trading at $37.09, a loss of $7.36 or 16.56%.