Transmeta (MM) (NASDAQ:TMTA)
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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.