OTTAWA, Ontario, Canada – May 2, 2006 - MOSAID Technologies Incorporated (TSX: MSD) today announced that PortalPlayer, Inc., (NASDAQ: PLAY) is the unnamed patent licensee that was previously announced under a separate news release issued by MOSAID on March 15, 2006.
Under the terms of the agreement, PortalPlayer has obtained a five-year exclusive license under the MOSAID patent portfolio, including the right to sublicense. PortalPlayer is obligated to pay MOSAID 40% of all gross revenues derived from any sublicenses granted. In addition to signing the license agreement, PortalPlayer has also purchased 25 MOSAID issued patents.
"We are very pleased to have developed an important strategic partnership with PortalPlayer," said Jim Skippen, Senior Vice President of Patent Licensing and General Counsel for MOSAID. "PortalPlayer is a clear leader in the development of chips for today's most popular personal portable media players. This type of relationship represents a new and exciting business opportunity for our patent licensing program as it extends our reach outside of DRAM. PortalPlayer's expertise in the portable media player industry makes it a natural partner for us in our efforts to branch into this new market."
"Signing this agreement with PortalPlayer demonstrates a new dimension to our patent licensing program," said George Cwynar, President and Chief Executive Officer for MOSAID. "It is a further testament to the strength of our patent portfolio, the creativity of our people and our capacity to find new opportunities and markets for our patent licensing program."
MOSAID Technologies Incorporated makes semiconductors better through the development and licensing of intellectual property and the supply of memory test and analysis systems. MOSAID counts many of the world's largest semiconductor companies among its customers. Founded in 1975, MOSAID is based in Ottawa, Ontario, with offices in Sunnyvale and Santa Clara, California; Newcastle upon Tyne, U.K; and Tokyo, Japan. For more information, visit www.mosaid.com.
PortalPlayer Inc., develops semiconductor, firmware and software platforms for portable multimedia products such as personal media players and secondary display enabled notebook computers. PortalPlayer products empower consumers to quickly and easily manage, enjoy and have access to multimedia content and other forms of information. PortalPlayer is headquartered in San Jose, Calif., with offices in Kirkland, Wash., Taipei, Taiwan and Hyderabad, India.