InterDigital has moved corporate headquarters from King of Prussia to Wilmington
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Tom Paine
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| InterDigital's Delaware Headquarters |
InterDigital has moved its corporate headquarters from King of Prussia to Wilmington, Delaware, Philly Tech News has learned.
In an 8-K filing with the SEC in late August, InterDigital, Inc. (NASDAQ: IDCC) said it had changed the "Address of Principal Executive Offices" from King of Prussia to Wilmington. Most of its corporate press releases are now datelined out of Wilmington, and its website lists Wilmington as its corporate headquarters. InterDigital develops patentable technology for advanced wireless communications.
In April, InterDigital announced it was seeking a $1.05 million grant from the Delaware Strategic Fund to open an office in Delaware employing 74 people. At the time, Patrick Van de Wille, InterDigital’s senior director of public relations and corporate communications, told the Philadelphia Business Journal that moving InterDigital’s headquarters from King of Prussia to Delaware “hasn’t been discussed."
In 2011, InterDigital said it would seek to auction itself to the highest bidder and its stock soared for a while, but bids were below expectations and InterDigital called off the auction in January of this year. InterDigital sold a portion of its patent portfolio to Intel for $375 million in June. The company has a current market value of $1.55 billion. InterDigital was founded, originally as International Mobile Machines Corporation, in 1972 in Philadelphia.
This latest move doesn't necessarily mean (as far as I know) that InterDigital, which at last report had 330 employees, will be reducing its King of Prussia presence. The company originally said its Delaware office would have a legal emphasis, which makes sense given the state's importance in corporate law. In 2011, InterDigital also opened an R&D office in San Diego, in an effort to attract more west coast engineering talent.
I asked Van de Wille by email to comment, but have not received a response.
Update: InterDigital spokesperson Patrick Van de Wille responded: "We recently made it [Wilmington] our corporate headquarters given the relocation of most of our corporate functions there, including the CEO’s and CFO’s offices. We continue to have research and engineering functions in King of Prussia, in addition to Long Island NY, Montreal and San Diego."
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