OTTAWA, Ontario - March 31, 2011 - MOSAID Technologies Inc. (TSX:MSD) today announced that it has signed a Memorandum of Understanding (MOU) with Hynix Semiconductor Inc. (Hynix) of Korea. The MOU calls for Hynix to take a six-year license to MOSAID's patents, with fixed equal quarterly payments over the term. The parties expect a final definitive agreement to be signed within the next few weeks. Hynix's existing patent license agreement with MOSAID expires on March 31, 2011.
"We are extremely pleased to have reached agreement with Hynix," said John Lindgren, President and CEO, MOSAID. "This makes MOSAID five-for-five for renewing term licenses without any lapse in coverage and is a testament to the continuing strength and value of our memory patents," said Lindgren.
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 communications systems. MOSAID counts many of the world's largest technology companies among its licensees. Founded in 1975, MOSAID is based in Ottawa, Ontario. For more information, visit www.mosaid.com and http://investorchannel.mosaid.com