Tim,
The deal with INTC is very clear!
SANTA CLARA, Calif. -DJ- Phoenix Technologies Ltd. (PTEC) reached a seven-year technology-licensing agreement with Intel Corp. (INTC).
Intel will pay Phoenix about $20 million in fees and royalties under the agreement, though revenues may be more depending on shipment volumes.
Intel also agreed to invest about $10.9 million to buy 894,971 newly issued, unregistered Phoenix common shares at $11.71 each and a warrant to purchase 1,073,965 additional shares, which includes an escalating exercise price over four years.
The 894,971 Phoenix shares Intel agreed to purchase represent about 6% of Phoenix's post-transaction shares. The companies said Intel agreed not to increase its ownership of Phoenix to more than 19.9% for two years and to limit its transfer rights.
Phoenix and Intel said in a press release that under the technology agreement, Phoenix will license to Intel several products and the two companies will jointly develop new product features and technologies for desktop and server systems. Intel agreed to license Phoenix's fourth generation PhoenixBIOS 4.0, System Essentials 1.0 Windows-based system resource and desktop management interface viewer, PhoenixMISER/DT power management software, MultiKey keyboard controller firmware and PhoenixVIEW video BIOS software for desktop and server motherboards.
Notice the "jointly develop" statement. This is on going and real.
Good investing,
Marc |
