Mountain View, Calif. – Google is acquiring a mobile patent portfolio for $4.9 million from Modu, the defunct maker of a line of modular mobile phones, according to Boy Genius Report, which cited a local newspaper in Israel.
Launched in 2008, Modu offered a small basic cell phone that could be combined with other modules to perform different functions.
The company was at one point preparing for an IPO, but would eventually run out of cash and cease operations.
Modu plans to use proceeds from the sale to pay off debt and back pay due to employees.
Related Links:
http://tinyurl.com/3ef34s3 (Boy Genius Report)
