Nvidia Corporation and Intellectual Ventures recently acquired close to 500 wireless communication patents in a joint business decision, which is expected to push Nvidia beyond personal computers.

The patents were purchased from IPWireless and include technology for advanced wireless technology, which is known as 4G Long Term Evolution, according to the Wall Street Journal.

Financial terms weren't disclosed in the deal, but both companies will split ownership of the patents, allowing cost savings and an increase in revenue, if successful.

Nvidia is known for chips graphics processing units, which generate visual effects in PC videogames, the source stated. The company made a significant move by teaming up with Intellectual Ventures in an effort to move beyond PCs and into supplying technology for mobile devices such as smartphones and tablets with its mobile processor called Tegra.

According to a recent wireless survey cited by Ars Technica, 91 percent of Americans use cell phones, which would put Nvidian in a great market for profitability. This might be especially true considering LTE technology is becoming more popular in the United States among carriers attempting to build out their networks in the upcoming years, according to the WSJ.