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What: Shares of technology license wrangler InterDigital
So what: The company put itself up for sale a few weeks ago, and the first round of bidding has closed. According to dealReporter, the first round of offers ranged from $1 billion to $2 billion, far below the $2.6 billion market cap that InterDigital commanded Friday or the recent high-water mark north of $3.4 billion.
Now what: The red-hot market for patent assets is cooling down quicker than InterDigital and many of its peers had hoped. Shares of wireless patent hopeful VirnetX
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