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Qimonda Administrator Signs Memorandum of Understanding With MOSAIDMUNICH, GERMANY and OTTAWA, ONTARIO, Aug 14, 2013 (Marketwired via COMTEX) -- The insolvency administrator over the estate of Qimonda AG, Dr. jur. Michael Jaffe (the "Administrator") and MOSAID Technologies Inc. ("MOSAID") today announced that they have entered into a Memorandum of Understanding ("MoU"). The MoU calls for the Administrator and MOSAID to negotiate and conclude an agreement under which MOSAID would provide exclusive licensing services for Qimonda's entire patent portfolio, comprised of approximately 7,500 patents and applications. The Administrator and MOSAID will attempt to conclude the formal agreement by December 31, 2013, latest. "This agreement with MOSAID does not affect the ongoing sales process regarding Qimonda's patent business that is likely to be finalized by the end of this year," says Dr. Michael Jaffe, "but further exploring the opportunities of licensing the portfolio together with such an experienced partner like MOSAID represents an attractive alternative for the creditors in order to realize the significant value of the portfolio," he went on to say. "We are extremely pleased to have signed this MoU with the Qimonda Administrator," said John Lindgren, President and CEO, MOSAID. "The Qimonda AG patent portfolio represents some of the industry's most innovative work in semiconductor memory and semiconductor process technology. Working to realize additional value from this portfolio would benefit the Qimonda estate, and would further cement MOSAID's reputation as the intellectual property management company of choice." About Qimonda Insolvency proceedings over the estate of Qimonda AG were opened on April 1, 2009 at the Munich District Court and Dr. Michael Jaffe was appointed insolvency administrator. Qimonda AG markets one of the largest semiconductor IP portfolios in the world comprising of approximately 7,500 patents and applications. JAFFE Rechtsanwalte Insolvenzverwalter (Lawyers & Insolvency Administrators) is one of the leading German law firms in the domain of insolvency administration as well as the conduct of related proceedings. The law firm, founded by Dr. Michael Jaffe, specializes on handling complex insolvency proceedings, often involving groups of companies operating internationally and the worldwide exploitation of intellectual property assets. JAFFE Rechtsanwalte Insolvenzverwalter operates out of seven offices across Germany. Dr. Michael Jaffe gained international acclaim as insolvency administrator of KirchMedia, one of the largest European media groups, as well as insolvency administrator over the German activities of refining giant Petroplus, the largest group insolvency case in Europe in 2012. About MOSAID MOSAID Technologies Inc. is a world-leading intellectual property management company. MOSAID monetizes patented intellectual property in the areas of semiconductors and communications, and develops semiconductor memory technology. MOSAID counts many of the world's largest technology companies among its licensees. Founded in 1975, MOSAID has offices in Ottawa, Ontario; Plano, Texas; and Luxembourg. For more information, please visit www.mosaid.com. FOR FURTHER INFORMATION PLEASE CONTACT: Media contact insolvency administrator Sebastian Brunner +49 (0)89 600881560 or +49 (0)175 5604673 [email protected] MOSAID Media and Investor Inquiries Michael Salter Senior Director, Investor Relations and Corporate Communications 613-599-9539 x1205 [email protected] SOURCE: MOSAID Technologies Inc. |