Agreement settles all outstanding disputes
SUNNYVALE, Calif. & BOISE, Idaho--(BUSINESS WIRE)--
Rambus Inc. (NASDAQ:RMBS) and Micron Technology, Inc. (NASDAQ:MU) today
announced they have signed a broad patent cross license agreement. Under
the agreement, Micron gains the right to use any Rambus patent for the
manufacture of specified integrated circuit products, including any
memory integrated circuit products. Certain of these memory products
will enjoy a perpetual, paid-up license after the end of the initial
term. The agreement requires quarterly royalty payments to Rambus over
the next seven years capped at $10 million per quarter, with a rolling
twelve-month cap fixed at $40 million, or $280 million during the
initial term. In addition, Micron will have the option to extend the
initial term of this agreement for additional renewal periods. As part
of this agreement, the two companies have settled all outstanding patent
and antitrust claims, and the agreement covers both Micron and Elpida
products. Other terms and details of the agreement are confidential.
"This milestone agreement puts years of legal disputes behind both
companies and opens doors for future cooperation," said Dr. Ron Black,
president and chief executive officer at Rambus. "We continue to focus
on developing innovative technology and furthering our more open,
collaborative relationship with the broader industry."
"The industry is at an important juncture with the emergence of memory
systems and solutions, and Micron is ideally positioned to capitalize on
this trend," said Micron CEO Mark Durcan.
Rambus management will host a conference call tomorrow, December 10,
2013 at 5:30am PT to discuss this agreement and settlement. The call
will be available online at investor.rambus.com.
A replay will be available following the call on the Rambus Investor
Relations website for one week at the following numbers: (855) 859-2056
(domestic) or (404) 537-3406 (international) with ID# 23087430.
About Rambus Inc.
Rambus is the innovative technology solutions company that brings
invention to market. Unleashing the intellectual power of our
world-class engineers and scientists in a collaborative and synergistic
way, Rambus invents, licenses and develops solutions that challenge and
enable our customers to create the future. While best known for creating
unsurpassed semiconductor memory architectures, Rambus is also
developing world-changing products and services in security and advanced
LED lighting and displays. For additional details, visit rambus.com.
About Micron
Micron Technology, Inc., is a global leader in advanced semiconductor
systems. Micron's broad portfolio of high-performance memory
technologies—including DRAM, NAND and NOR Flash—is the basis for solid
state drives, modules, multichip packages and other system solutions.
Backed by more than 35 years of technology leadership, Micron's memory
solutions enable the world's most innovative computing, consumer,
enterprise storage, networking, mobile, embedded and automotive
applications. Micron's common stock is traded on the NASDAQ under the MU
symbol. To learn more about Micron Technology, Inc., visit www.micron.com.
RMBSFN
Schwartz MSL for Rambus
Jason Morris or Darah Roslyn, 415-512-0770
rambus@schwartzmsl.com
or
Micron
Technology
Daniel Francisco, 208-368-5584
dfrancisco@micron.com
Source: Rambus Inc.
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