OTTAWA, Ontario – May 13, 2011 - MOSAID Technologies Inc. (TSX:MSD) today announced that J. Ian Giffen, a highly regarded financial and technology advisor, has been appointed to the Company's Board of Directors.
Mr. Giffen has more than twenty years of experience as a board director, advisor and chief financial officer to technology companies and investment funds. He is currently Chairman of the Board, Descartes Systems Group Inc., and is a Director of MKS Inc., RuggedCom Inc. and Absolute Software Inc. Mr. Giffen also serves on the boards of several private companies
"Mr. Giffen has a deserved reputation for his financial expertise and experience in influencing the growth of technology companies. We look forward to the important role he will play on our board," said Carl Schlachte, Chairman of the Board, MOSAID. "With the recent appointments of Jerry Mills, a skilled patent attorney, John Veschi, Nortel's Chief Intellectual Property Officer, and now Ian Giffen, this rounds out the strengthening of MOSAID's board and positions us well as we enter a new phase of development."
From 1992 to 1996, Mr. Giffen was Vice President and CFO of Alias Research Inc., until it was sold to Silicon Graphics Inc. for approximately $500 million. Since then, Mr. Giffen has advised private venture investment funds and served on the boards of public and private companies. He was on the board of Macromedia Inc. from 1997 until 2005, when it was sold to Adobe Systems for approximately $4 billion. Mr. Giffen also served on the boards of Certicom Corporation Inc., Changepoint Inc., Corel Corporation Inc., Delano Technology Inc., DPS Inc., Financial Models Inc., OpenText Corporation, Sierra Systems Inc. and 724 Solutions Inc.
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 telecommunications 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 the InvestorChannel.mosaid.com.