Transmeta Announces Two Agreements with Intel
September 24 2008 - 4:05PM
Business Wire
Transmeta Corporation (NASDAQ: TMTA) today announced that it has
entered into two agreements with Intel Corporation relating to the
licensing of Transmeta technologies and intellectual property. The
first agreement is a fully paid-up, non-exclusive technology
licensing agreement that provides for Transmeta to deliver a copy
of certain proprietary Transmeta computing technologies to Intel
and grants to Intel a non-exclusive license to use and exploit
those technologies commercially. The second agreement is an
amendment to the previously announced settlement, release and
license agreement that Transmeta and Intel entered into on December
31, 2007. That settlement agreement granted to Intel a perpetual
non-exclusive license to all Transmeta patents and patent
applications, including any patent rights later acquired by
Transmeta, now existing or as may be filed on or before December
31, 2017. Among other things, that settlement agreement provided
for Intel to make five annual future payments to Transmeta of $20
million per year for each year from 2009 though 2013. This
amendment accelerates Intel�s remaining future payment obligations
under the settlement agreement. Pursuant to these two agreements,
Transmeta expects to receive cash payments from Intel totaling
$91.5 million before the end of Transmeta�s current fiscal quarter
ending September 30, 2008. "We are very pleased to have achieved
these two additional agreements with Intel," said Les Crudele,
president and CEO of Transmeta. "We believe that the agreements
reflect the technical merit and industrial value of Transmeta�s
legacy computing technologies and strengthen our balance sheet.�
About Transmeta Corporation Transmeta Corporation develops and
licenses innovative computing, microprocessor and semiconductor
technologies and related intellectual property. Founded in 1995,
Transmeta first became known for designing, developing and selling
its highly efficient x86-compatible software-based microprocessors,
which deliver a balance of low power consumption, high performance,
low cost and small size suited for diverse computing platforms.
Transmeta is presently focused on developing and licensing its
advanced power management technologies for controlling leakage and
increasing power efficiency in semiconductor and computing devices,
and in licensing its computing and microprocessor technologies to
other companies. To learn more about Transmeta, visit
www.transmeta.com. Transmeta, LongRun and LongRun2 are trademarks
of Transmeta Corporation. Safe Harbor Statement This release
contains forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such statements speak only as of the date of this release,
and we will not necessarily provide updates of our projections or
other forward-looking statements. Investors are cautioned that such
forward-looking statements are subject to many risks and
uncertainties, and may differ materially or adversely from our
actual results or future events. The forward-looking statements in
this press release involve risks and uncertainties including, but
not limited to, unanticipated changes in the financial markets and
the possibility that the payment from Intel might be delayed or not
made in accordance with the agreements described herein. We urge
investors to review our filings with the Securities and Exchange
Commission, including our most recent reports on Forms 10-K, 10-Q,
and 8-K, which describe important risk factors that could have an
adverse effect on our results. We undertake no obligation to revise
or update publicly any forward-looking statement for any reason.
Transmeta (MM) (NASDAQ:TMTA)
Historical Stock Chart
From Sep 2024 to Oct 2024
Transmeta (MM) (NASDAQ:TMTA)
Historical Stock Chart
From Oct 2023 to Oct 2024