Broadcast services provider Technicolor has sold its stake in DRM specialist ContentGuard.
Technicolor has agreed to sell its 25.7% stake in ContentGuard to Pendrell Technologies, who is acquiring 90.1% of the company for US$90.1 million (€66 million).
Technicolor acquired its stake in ContentGuard in 2005 and claims it will net US$11.5 million from the sale. “This transaction is in line with the Group’s strategy to focus on the monetisation of its IP assets,” the company said in a statement.
The deal is subject to regulatory approval and is expected to close by the end of the year.