The move comes nearly a year after InterDigital, an engineering company in King of Prussia, Pa., put itself up for sale after a syndicate led by Apple (Nasdaq: AAPL), the world's most valuable technology company, paid $4.5 billion for patents from defunct Nortel Networks.
Intel, in Santa Clara, Calif., previously bought wireless patents from German chipmaker Infineon Technologies (Pink: IFNNY) for $1.4 billion to bolster its wireless product line in the Centrino family.
Shares of InterDigital, which also announced a $200 million share buyback, rose as much as 30 percent to $30.28 before falling back to close at $29.08, up $6.20 or 27 percent. Intel closed at $27.42, up 8 cents.
![The Euro Zone Economies Are Spiraling Down But By The Social Progress Index European Nations Beat The US For The Top Spots [CHART]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_thumbnail/public/2013/05/24/social-progress-index.png "The Euro Zone Economies Are Spiraling Down But By The Social Progress Index European Nations Beat The US For The Top Spots [CHART]")
![Helen Mirren: Dying Boy, Oliver Burton, Gets His Last Wish Thanks To Actress Dressed As Queen Elizabeth [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_medium/public/2013/05/22/helen-mirren-visits-dying-boy_1.jpg "Helen Mirren: Dying Boy, Oliver Burton, Gets His Last Wish Thanks To Actress Dressed As Queen Elizabeth [PHOTOS]")
![Great GoogaMooga In Brooklyn: Music, Food And Disappointment As The Festival Gets Cancelled [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_medium/public/2013/05/21/matt-kim_4.JPG "Great GoogaMooga In Brooklyn: Music, Food And Disappointment As The Festival Gets Cancelled [PHOTOS]")
![Oklahoma Tornado 2013: Photos And Footage Of The Twister's Devastation [PICTURES, VIDEO]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_medium/public/2013/05/20/oklahoma-tornado_1.png "Oklahoma Tornado 2013: Photos And Footage Of The Twister's Devastation [PICTURES, VIDEO]")
![Billboard Music Awards 2013: All The Fashion On The Billboards Red (Er, Blue) Carpet [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_multimedia/public/2013/05/20/keha-givenchy.jpg "Billboard Music Awards 2013: All The Fashion On The Billboards Red (Er, Blue) Carpet [PHOTOS]")
![Fort Worth Texas Tornadoes Claim 6 Lives: Pictures And Videos During The Storm And Its Aftermath [PHOTOS/VIDEO]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_medium/public/2013/05/16/tornado.PNG "Fort Worth Texas Tornadoes Claim 6 Lives: Pictures And Videos During The Storm And Its Aftermath [PHOTOS/VIDEO]")
![5 Incredible Future Campuses For The World's Tech Giants [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_small/public/2013/05/22/amazons-biodome_0.jpg "5 Incredible Future Campuses For The World's Tech Giants [PHOTOS]")
Like or Follow us for updates on the biggest stories!