Imation Will Pay SanDisk Royalties and Enters Into Stipulated Judgment
Milpitas, Calif., February 2, 2011- SanDisk Corporation (NASDAQ: SNDK), the global leader in flash memory cards, today announced that Imation Corp. has signed a patent cross-license agreement with SanDisk to settle two cases filed by SanDisk in Federal District Court against Imation alleging infringement of flash memory system-level patents.
Under the terms of the cross-license, Imation will pay SanDisk royalties on various flash memory products, including USB flash drives and solid state disk ("SSD") drives. In addition, Imation entered into a stipulated judgment of infringement and validity in SanDisk's favor on claims of U.S. Patent No. 7,137,011, which covers the use of certain encryption technology in a memory card.
The specific terms of the agreement are confidential. The two infringement cases remain pending against Kingston Technology Company, Inc.
SanDisk Corporation is the global leader in flash memory cards - from research, manufacturing and product design to consumer branding and retail distribution. SanDisk's product portfolio includes flash memory cards for mobile phones, digital cameras and camcorders; digital audio/video players; USB flash drives for consumers and the enterprise; embedded memory for mobile devices; and solid state drives for computers. SanDisk is a Silicon Valley-based S&P 500 company, with more than half its sales outside the United States.
© 2011 SanDisk Corporation. All rights reserved. SanDisk and the SanDisk logo are trademarks of SanDisk Corporation, registered in the United States and other countries. Other brand names mentioned herein are for identification purposes only and may be the trademarks of their respective holder (s).
This press release contains certain forward looking statements, including statements about SanDisk's licensing program that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Risks that may cause these forward-looking statements to be inaccurate include among others: the market demand for our products may grow more slowly than our expectations, fluctuations in license and royalty revenues, and the other risks detailed from time-to-time in our Securities and Exchange Commission filings and reports, including, but not limited to, our annual report on Form 10-K and our quarterly reports on Form 10-Q. We do not intend to update the information contained in this press release.
Wendy Sept Vlieks