Arbinet Corporation to Sell Certain Patent Assets for $4 Million

Arbinet Corporation ARBX announced that it signed a definitive agreement to sell its portfolio of patents and patent applications for a purchase price of $4,000,000 to AIP Acquisition LLCon February 11, 2011. Arbinet's patent sale to AIP is expected to close this week. In connection with the sale, Arbinet and AIP entered into a license agreement, which, among other things, will grant to Arbinet and its affiliates a royalty-free, worldwide, assignable and perpetual license to the patents, patent applications and associated rights when the patent sale closes.