SANTA CLARA & SAN JOSE, USA: MoSys Inc. and Invensas Corp., a wholly owned subsidiary of Tessera Technologies Inc., have entered into a patent purchase agreement. Under the agreement, Invensas purchased 43 United States and 30 foreign memory technology patents from MoSys for $35 million in cash.
MoSys retained a royalty-free license to the patents to cover its Bandwidth Engine product line and technology partners, along with related rights to offer sublicenses to current and future partners.
“The MoSys patents are very relevant to industry-standard DRAM products that have been shipping from the fabs of our potential licensees. The MoSys transaction represents an important milestone in our ongoing acquisition program,” said Simon McElrea, president, Invensas.
“We are pleased with this transaction as it provides MoSys and its current licensees with continued access to the patents and allows us to strengthen our balance sheet,” stated Len Perham, president and CEO, MoSys. “The combination of the retained license and the non-dilutive source of funding made this transaction very appealing.”