RealNetworks said today it has completed the previously announced sale of patents and next generation video codec software to Intel for $120 million. RealNetworks says it is still retains certain rights to continue to use the patents in current and future products and does not expect the sale will have any material impact on its businesses.

RealNetworks originally announced the asset purchase agreement and licensing agreement on January 26, 2012.

In addition to the sale of the patents and next-generation video codec software, RealNetworks and Intel had signed a memorandum of understanding to collaborate on future support and development of the next-generation video codec software and related products.