BOISE, Idaho and BELLEVUE, Wash., May 31, 2011 /PRNewswire/ -- Micron Technology, Inc. (Micron) (Nasdaq: MU) and Intellectual Ventures (IV®) announced today that they have entered into an intellectual property license agreement.
The agreement provides Micron with access to IV's patent portfolio of more than 30,000 IP assets. In addition, the companies have the option to buy patents from each other. Micron can acquire patents from IV to help defend against companies that may assert patents against them, and IV has the opportunity to acquire patents from Micron to expand and supplement its growing portfolio of IP assets.
"Building on Micron's extensive patent portfolio, this transaction provides Micron strategic access to IV's substantial patent portfolio to help drive future innovation and continued expansion of our award-winning products and leading-edge technologies in addition to opportunities to advance our intellectual property strategies," said Rod Lewis, Micron's vice president of legal affairs and general counsel.
"Micron is an innovative industry-leading company and has pioneered various thoughtful and strategic intellectual property transactions," said Joe Chernesky, vice president and general manager, global licensing sales at Intellectual Ventures. "Our collaborative agreement with Micron further validates the strength of our patent portfolio and the value we bring to technology companies through efficient access to intellectual property."
Intellectual Ventures engages with companies of all sizes to meet their current business needs and provide strategic guidance on forward-thinking intellectual property. IV combines scale and expertise to structure sophisticated deals designed to help companies strengthen their market position by reducing their current risk and providing access to the invention rights they need to stay competitive. Collaborating with Intellectual Ventures helps Micron protect its core business so it can focus on innovation.
About Micron Technology, Inc.
Micron Technology, Inc. is one of the world's leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets a full range of DRAM, NAND and NOR flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products. Micron's common stock is traded on the NASDAQ under the MU symbol. To learn more about Micron Technology, Inc., visit www.micron.com.
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies, and invests both expertise and capital in the process of invention. IV's mission is to energize and streamline an invention economy that will drive innovation around the world. www.intellectualventures.com
Micron and the Micron orbit logo are trademarks of Micron Technology, Inc.
Intellectual Ventures is a registered trademark of Intellectual Ventures Management, LLC (IV). All other trademarks are the property of their respective owners.
SOURCE Intellectual Ventures