English
MOSAID Issues Statement on Qimonda
OTTAWA, ONTARIO -- Jan. 23, 2009 -- MOSAID Technologies Inc. (TSX:MSD) today issued the following statement in regards to the announcement that Qimonda AG (Qimonda) has filed a petition in Munich, Germany, to open insolvency proceedings as part of an ongoing restructuring program.
MOSAID statement on Qimonda
As previously stated, MOSAID has mitigated a portion of the credit risk associated with Qimonda through the use of third-party credit insurance. Specifically, MOSAID purchased credit insurance that, in the event of payment default, insures MOSAID for four quarterly payments at 90%. At present, Qimonda is not in default of its payment obligations to MOSAID, and the Company continues to monitor the situation.
MOSAID is maintaining its guidance for revenue and pro forma income for both the third quarter of fiscal 2009 and for the full fiscal year.
About MOSAID
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 wired and wireless communications 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.
MOSAID statement on Qimonda
As previously stated, MOSAID has mitigated a portion of the credit risk associated with Qimonda through the use of third-party credit insurance. Specifically, MOSAID purchased credit insurance that, in the event of payment default, insures MOSAID for four quarterly payments at 90%. At present, Qimonda is not in default of its payment obligations to MOSAID, and the Company continues to monitor the situation.
MOSAID is maintaining its guidance for revenue and pro forma income for both the third quarter of fiscal 2009 and for the full fiscal year.
About MOSAID
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 wired and wireless communications 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.
|
||||||
Related News
- Xilinx Issues Statement in Response to Analog Devices Patent Infringement Lawsuit
- UMC Issues Follow-up Statement Regarding Recent Legal Developments
- UMC Issues Statement in Response to Recent Indictment and Civil Complaint
- SMSC Issues Statement in Response to Announcement by Conexant of Receipt of Unsolicited Proposal from Golden Gate Private Equity, Inc.
- MOSAID Extends NXP's Patent License and Signs New Wireless Agreement; Provides update on Qimonda
Breaking News
- Analog Bits to Demonstrate IP Portfolio on TSMC 3nm and 2nm Processes at TSMC 2025 Technology Symposium Novel
- Equal1 advances scalable quantum computing with CMOS-compatible silicon spin qubit technology
- New Breakthroughs in China's RISC-V Chip Industry
- JEDEC® and Industry Leaders Collaborate to Release JESD270-4 HBM4 Standard: Advancing Bandwidth, Efficiency, and Capacity for AI and HPC
- BrainChip Gives the Edge to Search and Rescue Operations
Most Popular
- Cadence to Acquire Arm Artisan Foundation IP Business
- Siemens to accelerate customer time to market with advanced silicon IP through new Alphawave Semi partnership
- Intel Announces Strategic Investment by Silver Lake in Altera
- Andes Technology Celebrates 20 Years with New Logo and Headquarters Expansion
- AMD Achieves First TSMC N2 Product Silicon Milestone
|
E-mail This Article | 
|
|
Printer-Friendly Page |