| Toshiba and Micron Agree to Settle All Pending Lexar Litigation
15 September, 2006
TOKYO and BOISE, Idaho, September 15, 2006 – Toshiba Corporation and Micron Technology, Inc., today announced they have entered into agreements where Toshiba will purchase certain of Microns semiconductor technology patents and license patents previously owned by Lexar Media, Inc. in exchange for payments totaling $288 million.
The agreements settle all outstanding NAND flash memory-related litigation between Toshiba Corporation, its subsidiaries and Lexar Media, Inc., which Micron acquired in June. As a result of the license and purchase agreements, the litigation pending between Toshiba and Lexar in the Northern District of California U.S. District Court, the International Trade Commission (ITC) and California Court of Appeals will be dismissed.
"We appreciate that Micron approached this issue in a positive spirit that allowed the parties to work together to bring all outstanding litigation and claims to a full and final resolution," said Masashi Muromachi, corporate executive vice president of Toshiba Corporation and president & CEO of Toshibas Semiconductor Company. "Going forward, we will continue to contribute to the growth and development of the NAND flash industry."
"We have enjoyed a strong relationship with Toshiba for a number of years, have the highest respect for Toshiba as an innovator in flash technology and see no merit in continuing to pursue this litigation," said Steve Appleton, Micron chairman, CEO and president.
Under its mid-term business plan, Toshiba is promoting initiatives for sustained growth that will support its continued development as a highly profitable group of companies active in both high growth and stable growth businesses. Toshiba has 172,000 employees worldwide and annual sales of over US$54 billion. Toshiba was a principal innovator of NAND flash memory technology in the 1980s and has been a pioneer throughout its development. Visit Toshiba's web site at www.toshiba.co.jp/index.htm
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