IRVINE, Calif. -- (Business Wire)
Western Digital Corporation (NASDAQ: WDC), a world leader in storage
technologies and solutions, today announced that it has signed a
definitive royalty-bearing agreement with Samsung Electronics Co., Ltd.
to renew the cross-license of the two companies’ semiconductor patent
portfolios. The terms of the renewed agreement are retroactive to the
end date of the prior agreement, which expired on August 14, 2016. The
renewed agreement will run through December 31, 2024.
The agreement includes rights to each party's patents broadly covering
multi-level cell flash memory and flash storage systems. The original
agreement, which dates back to 1997 and had been renewed twice before,
had permitted Samsung to use patented flash memory technologies invented
by SanDisk, which Western Digital acquired in May 2016.
The agreement recognizes the strength and value of each company’s
intellectual property and enables Western Digital to continue to focus
on developing and exploring uses for next-generation flash technology.
At the time of its acquisition by Western Digital, SanDisk had been a
leading innovator in flash technology for nearly thirty years, investing
billions of dollars in research and development globally to design,
manufacture, and bring flash products to market. This agreement allows
Western Digital to continue to realize the value of the SanDisk
acquisition and extends the company’s mutually beneficial relationship
with Samsung. Financial terms of the renewed agreement were not
disclosed.
About Western Digital
Western Digital Corporation (NASDAQ: WDC) is an industry-leading
provider of storage technologies and solutions that enable people to
create, leverage, experience and preserve data. The company addresses
ever-changing market needs by providing a full portfolio of compelling,
high-quality storage solutions with customer-focused innovation, high
efficiency, flexibility and speed. Our products are marketed under the
HGST, SanDisk and WD brands to OEMs, distributors, resellers, cloud
infrastructure providers and consumers. For more information, please
visit www.hgst.com,
www.wd.com,
and www.sandisk.com.
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding the company’s plans for
developing-next-generation flash technology and realizing the value of
the SanDisk acquisition. These forward-looking statements are based on
management’s current expectations and are subject to risks and
uncertainties that could cause actual results to differ materially from
those expressed or implied in the forward-looking statements, including
volatility in global economic conditions; business conditions and growth
in the storage ecosystem; impact of competitive products and pricing;
market acceptance and cost of commodity materials and specialized
product components; actions by competitors; unexpected advances in
competing technologies; our development and introduction of products
based on new technologies and expansion into new data storage markets;
risks associated with acquisitions, mergers and joint ventures;
difficulties or delays in manufacturing; and other risks and
uncertainties listed in the company's filings with the Securities and
Exchange Commission (the "SEC"), including the company’s Form 10-Q filed
with the SEC on Nov. 8, 2016, to which your attention is directed. The
company undertakes no obligation to update the information in this
release in the event facts or circumstances change after the date of
this release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161206006352/en/
Contacts:
Western Digital Corp.
Media Contact:
Jim
Pascoe
408.717.6999
jim.pascoe@wdc.com
or
Investor
Contact:
Bob Blair
949.672.7834
robert.blair@wdc.com
Source: Western Digital Corporation
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