The sale of the IP is the direct result of Freescale's plan to monetize its wireless assets after the company was unable to sell its Cellular Products division last year, according to Will Strauss, president of Forward Concepts Inc.

Freescale, along with former parent Motorola Inc., agreed to transfer the IP in a formal ceremony held in early August, according to Strauss. Details have not been released, but the transaction is scheduled for completion later this year, Strauss wrote in his firm's newsletter published Tuesday (Sept. 1).

Freescale (Austin, Texas) said last year it would exit the wireless IC business, putting the cellular products group up for sale. But in January—after failing to find a buyer for the division—Freescale said it was considering other options, including selling it in pieces rather than holding out for a single buyer.

Freescale CEO Rich Beyer said in July that the company sold a very small part of its wireless chip business to Fujitsu Microelectronics, but that most of the resources associated with it have been let go.

Speculation earlier this year that the company was close to a deal to sell all or part of its cellular products group to a Chinese firm was inaccurate, though there were some discussions, Beyer said.

Last month, Strauss said Freescale had "decided to continue its cellular operations, but on a smaller level, through supporting its current iDEN (Integrated Digital Enhanced Network) business" with Motorola and Blackberry maker Research in Motion.

A spokesperson for Freescale did not immediately respond to a request for comment on the report by Strauss.