Mindspeed(R) Completes $10 Million Sale of Intellectual Property
July 21 2008 - 8:30AM
Marketwired
NEWPORT BEACH, CA , a leading supplier of semiconductor
solutions for network infrastructure applications, today announced
that it has completed the sale of certain non-core patents for $10
million, which will be reported in the company's fourth quarter
revenues. Specific terms of the sale are confidential.
Mindspeed has a broad intellectual property portfolio with a
number of patents, which are no longer core to its business focus.
For the past year the company has generated revenues from patent
sales and expects to enter into additional strategic non-core
patent sale or licensing arrangements in the future.
About Mindspeed Technologies�
Mindspeed Technologies, Inc. designs, develops and sells
semiconductor networking solutions for communications applications
in enterprise, access, metropolitan and wide-area networks.
The company's three key product families include
high-performance analog transmission and switching solutions,
multiservice access voice-over-IP processors designed to support
voice and data services across wireline and wireless networks and
WAN communication products such as T/E carrier transmission devices
and ATM/MPLS network processors.
Mindspeed's products are used in a wide variety of network
infrastructure equipment, including voice and media gateways,
high-speed routers, switches, access multiplexers, cross-connect
systems, add-drop multiplexers and digital loop carrier
equipment.
To learn more, visit us at www.mindspeed.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. Such statements include information regarding the
company's expectations, goals or intentions, including but not
limited to, statements regarding future patent sale or licensing
arrangements and the company's intellectual property portfolio.
These forward-looking statements are based on management's current
expectations, estimates, forecasts and projections about the
company and are subject to risks and uncertainties that could cause
actual results and events to differ materially from those stated in
the forward-looking statements. These risks and uncertainties
include, but are not limited to: market demand for the company's
new and existing products and its ability to increase revenues; the
company's ability to further generate cash; availability and terms
of capital needed for the company's business; the company's ability
to maintain operating expenses within anticipated levels;
constraints in the supply of wafers and other product components
from the company's third-party manufacturers; the company's ability
to successfully and cost effectively establish and manage
operations in foreign jurisdictions; the company's ability to
attract and retain qualified personnel; successful development and
introduction of new products; the company's ability to successfully
integrate acquired businesses and realize the anticipated benefits
from such acquisitions; the company's ability to obtain design wins
and develop revenues from them; pricing pressures and other
competitive factors; industry consolidation; order and shipment
uncertainty; changes in customers' inventory levels and inventory
management practices; fluctuations in manufacturing yields; product
defects; intellectual property infringement claims by others and
the ability to protect the company's intellectual property. Risks
and uncertainties that could cause the company's actual results to
differ from those set forth in any forward-looking statement are
discussed in more detail under "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in the company's Quarterly Report on Form 10-Q for the
quarter ended March 28, 2008, as well as similar disclosures in the
company's subsequent SEC filings. Forward-looking statements
contained in this press release are made only as of the date
hereof, and the company undertakes no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact: Thomas Stites Mindspeed Technologies, Inc. (949)
579-3650
Mindspeed Technologies, Inc. (MM) (NASDAQ:MSPD)
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