MOSAID, IBM sign patent license agreement, resolve patent litigation suit

OTTAWA, CANADA: MOSAID Technologies Inc. has entered into a patent license agreement with IBM Corporation (NYSE:IBM) of Armonk, New York. A separate settlement agreement effectively ends the pending litigation between MOSAID and IBM.

Under the terms of the non-exclusive worldwide patent license agreement, IBM receives a five-year license to certain of MOSAID patents. IBM's processor and Application Specific Integrated Circuit (ASIC) products that contain embedded DRAM are licensed under the agreement.

IBM will make a series of fixed payments to MOSAID during the term of the agreement. All other terms of the patent license and settlement agreements are confidential.