Santa Clara, CA and San Jose, CA Dec. 29, 2011-- MoSys, Inc. (Nasdaq: MOSY) and Invensas Corporation, a wholly owned subsidiary of Tessera Technologies, Inc. (Nasdaq: TSRA), announced today that they 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 in our ongoing acquisition program," said Simon McElrea, president, Invensas Corporation.
“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 chief executive officer, MoSys. “The combination of the retained license and the non-dilutive source of funding made this transaction very appealing."
About MoSys, Inc.
MoSys, Inc. (NASDAQ: MOSY) is a provider of serial chip-to-chip communications solutions that deliver unparalleled bandwidth performance for next generation networking systems. MoSys' Bandwidth Engine ® family of ICs combines the company's patented 1T-SRAM ® high-density memory with its high-speed interface technology. MoSys' IP portfolio includes silicon proven SerDes and DDR3 PHYs that support a wide range of data rates across a variety of standards and 1T-SRAM memory cores that provide a combination of high-density, low-power consumption, high-speed and low cost advantages for high-performance networking, computing, storage and consumer/graphics applications. MoSys is headquartered in Santa Clara, California. More information is available on MoSys' website at www.mosys.com.
About Invensas Corporation Invensas Corporation, a wholly owned subsidiary of Tessera Technologies, Inc. (Nasdaq: TSRA), acquires, develops, and monetizes strategic intellectual property in areas such as, circuitry design, memory modules, 3-D systems, and advanced interconnect technologies, to serve the dynamic mobile, storage and consumer electronics sectors. The group is headquartered in San Jose, California. For information call 1.408.321.6000 or go to www.invensas.com.
