This morning's news: SanDisk and TDK Sign Flash Memory Card Cross-Licensing Patent Agreement
SUNNYVALE, Calif.--(BUSINESS WIRE)--July 26, 2000--SanDisk Corporation (Nasdaq:SNDK) and TDK Corporation (NYSE:TDK) announced today that they have signed a worldwide cross licensing patent agreement covering TDK's flash memory card products and SanDisk's flash memory integrated circuits and flash memory card products.
Under the patent agreement, SanDisk is licensed to TDK's patents covering the design and manufacture of flash memory integrated circuits and card products. TDK is licensed to SanDisk's patents covering the design and manufacture of licensed flash card products. Both companies have global rights to use these patents in the licensed product areas. The specific terms of the SanDisk and TDK patent agreement are confidential.
Eli Harari, SanDisk president and CEO, said, "I am very pleased with this agreement between TDK and Sandisk that will allow both companies to reap the rewards of the many card-level patents that each company holds. TDK, one of the world's premier electronics companies, is the eighth firm that SanDisk has signed a cross-licensing patent agreement with. We see this as just the first step for expanding the business cooperation between our two companies."
Hajime Sawabe, president and CEO of TDK, said, "We are excited about this business relationship that we have formed with SanDisk, the world's leading company in the flash data storage market. TDK is planning on a new business development with SanDisk which we expect will result in long-term growth and profitability for both companies."
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