Following an industry trend, Intel will be scooping up a large selection of patents – and other items – under a planned deal with RealNetworks (News - Alert).

Intel will pay $120 million to RealNetworks for some 190 patents and 170 patent applications, according to a report from The Wall Street Journal.

Other tech companies recently have gotten or will try to get patents from either direct purchases or outright acquisitions. Eastman Kodak (News - Alert) was one such company selling off its patent portfolio, according to TechZone 360.

With this deal, Intel (News - Alert) will expand its “diverse and extensive portfolio of intellectual property,” TMCnet said in its analysis.

The company will also get video codec software from RealNetworks, which provides “the quick compression or decompression of video for streaming,” The Journal said. Intel can employ the new products for streaming media used for laptops, smartphones, and on other devices, The Journal adds. The devices may also include Ultrabooks and applications for digital media, according to TMCnet.

“The acquisition of these foundational media patents, additional patents and video codec software expands Intel's diverse and extensive portfolio of intellectual property," Renée James, Intel senior vice president and general manager of the Software and Services Group, said in a company press release. "We believe this agreement enhances our ability to continue to offer richer experiences and innovative solutions to end users across a wide spectrum of devices.”

As part of the agreement, RealNetworks, can also use the patents in current and future products, and will work with Intel on product development, according to news reports.

"Selling these patents to Intel unlocks some of the substantial and unrealized value of RealNetworks assets," RealNetworks President and CEO Thomas Nielsen said in the company statement. "It represents an extraordinary opportunity for us to generate additional capital to boost investments in new businesses and markets while still protecting our existing business.”

"Intel has a strong reputation as a technology innovator, and we believe they are well positioned to build on the development work and investment we've made in this area," Nielsen added.

RealNetworks does not expect the sale will have a “material impact on its businesses,” the company added in the statement. RealNetworks offers SaaS (News - Alert) products and services; RealPlayer; GameHouse online and social games; and SuperPass.

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