OTTAWA, Ontario - May 16, 2011 - MOSAID Technologies Inc. (TSX:MSD) today announced that it has concluded a patent portfolio license agreement with Hynix Semiconductor Inc. of Korea. In a separate purchase agreement, MOSAID has acquired a significant portfolio of patents and patent applications from Hynix. These two agreements follow the Memorandum of Understanding between MOSAID and Hynix which was announced in a press release issued by MOSAID on March 31, 2011.
Under the terms of the license agreement, Hynix receives a six-year term license to certain MOSAID patents and applications, and a life-of-patents license to certain other patents and applications, for semiconductor integrated circuit products sold by Hynix. Hynix will make a series of fixed, equal quarterly payments during the term. The effective date of the term license is April 1, 2011. All other terms and conditions of the license agreement are confidential.
Under the terms of the purchase agreement, MOSAID acquires a portfolio of several hundred patents and patent applications, relating primarily to semiconductor general manufacturing process and memory technologies. MOSAID will make a single purchase payment upon closing of the transaction.
"We are very pleased to have signed these deals with Hynix, the world's second largest producer of commodity Dynamic Random Access Memory and a major NAND Flash memory vendor," said John Lindgren, President and CEO, MOSAID. "The new patent portfolio license provides uninterrupted coverage between the expiration of the prior agreement and this one."
"Signing a second license with Hynix demonstrates the ongoing strength of our memory patent portfolio," said Michael Vladescu, Vice President, Licensing and Intellectual Property, MOSAID. "Our memory and general process patent portfolios continue to grow, fueled by our internal Flash memory technology development, as well as by acquisitions of third-party intellectual property portfolios, such as this important portfolio from Hynix."
MOSAID Technologies Inc. is one of the world's leading intellectual property companies. MOSAID licenses patented intellectual property in the areas of semiconductors and communications systems, and develops semiconductor memory technology. 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