OTTAWA, Ontario – Jan 04, 2010 - MOSAID Technologies Inc. (TSX:MSD) today announced that it has entered into an 19-day standstill agreement with Samsung Electronics Co., Ltd. MOSAID and Samsung have successfully negotiated a new agreement, that is subject to approval by both companies' Boards of Directors on or before January 18, 2010.
"The standstill agreement was put in place to cover the period between the expiration of our existing semiconductor agreement with Samsung on December 31, 2009, and the expected approval of the new agreement by Samsung's Board of Directors," said John Lindgren, President and CEO, MOSAID.
MOSAID Technologies Inc. is one of the world’s leading intellectual property companies. MOSAID develops semiconductor memory technology and licenses patented intellectual property in the areas of semiconductors, and wired and wireless communications systems. MOSAID counts many of the world's largest semiconductor companies among its customers. Founded in 1975, MOSAID is based in Ottawa, Ontario.
For more information, visit www.mosaid.com.