Western Digital Receives License to Patent at Issue
SANTA CLARA, CA – July 29, 2010 – MagSil Corporation (MagSil) today announced that the litigation between MagSil and Massachusetts Institute of Technology (MIT), on the one hand, and Western Digital Corporation (NYSE:WDC) and its affiliates, on the other hand, has been satisfactorily resolved by an out of court settlement, and Western Digital Corporation and its affiliates have received a license to the patent at issue in the lawsuit. The litigation, pending in the Federal district court in Delaware, remains ongoing against Hitachi Global Storage Technologies, Inc., Hitachi Data Systems Corporation, Hitachi America, Ltd., and Shenzen ExcelStor Technology Ltd. In the litigation, the defendants are accused of infringing a patent owned by MIT and exclusively licensed to MagSil, by making and selling hard disk drives or hard disk drive components using Tunneling Magnetoresistive (TMR) technology. To date, MagSil Corporation has reached out of court settlements with leading hard disk drive and drive components makers Seagate Technologies, SAE Magnetics and Headway Technologies, and Western Digital Corporation. “We are very pleased with this additional settlement. We will vigorously continue to exercise our right to defend and be fairly compensated for use of our patented innovations, and we look forward to a favorable resolution of our claims against the remaining defendants,” said Jay Kamdar, President & CEO of MagSil Corporation. “MagSil has developed breakthrough magnetic memory technology for the next generation of mobile consumer, computing and storage systems. The strength of our IP portfolio and our ongoing innovations provide a sustainable competitive advantage and positions MagSil for greater market success.” MagSil and MIT are represented in the litigation by McKool Smith P.C. and by Morris, Nichols, Arsht & Tunnell LLP.
About MagSil Corporation
MagSil Corporation, headquartered in Santa Clara, California, has developed a pioneering Magnetoresistive Random Access Memory (MRAM) technology. MagSil’s patented innovative Magnetic Recording (iMR) cell architecture combines the best of magnetic technology with mainstream semiconductor manufacturing processes, enabling the development of a disruptive technology for stand-alone and embedded MRAM products. MagSil’s technology resolves the performance barriers currently experienced by system designers in legacy memory technologies. MagSil’s MRAM solutions provide the needed combination of higher performance, lower power, non-volatility, and superior endurance to realize next generation digital products; from mobile wireless, solid state drives, and consumer entertainment solutions to imaging, automotive, energy management and security devices. MagSil’s MRAM technology is silicon-proven, highly scalable, and manufacturing friendly yielding the most reliable, high density, ultra low-power, and cost-effective memory solutions. More information is available on MagSil's website at www.magsil.com.