Intel Corporation is set to purchase about 1,700 wireless technology patents for $375 million from InterDigital Inc. This has caused shares of the tech company to increase by 27 percent. Intel has been looking to expand its chip business into mobile devices, while InterDigital has been looking for a possible sale of the company or its patents since July 2011. Investors of InterDigital applauded the deal after many had questioned the company’s ability to finalize a patent sale after the company announced it had failed to find a buyer for the whole company. InterDigital is adhering to their original revenue target of $71 million for the second quarter, including the sale of other patents for $9 million in a separate deal.