MOSAID Technologies Inc.
TSX : MSD

MOSAID Technologies Inc.

January 17, 2011 08:31 ET

MOSAID Announces Changes to Board of Directors

OTTAWA, ONTARIO--(Marketwire - Jan. 17, 2011) - MOSAID Technologies Inc. (TSX:MSD) today announced that Jerry W. Mills, an acclaimed patent litigation attorney, technology entrepreneur and investor, has been appointed to MOSAID's Board of Directors. 

Mr. Mills retired as a Senior Partner at Baker Botts LLP, a leading international law firm based in Texas. As Chair of Baker Botts' Intellectual Property (IP) department with over 125 attorneys, Mr. Mills directed one of the largest and most respected IP legal practices in the United States. He has handled complex patent and trademark litigation, and has extensive experience in patent licensing and enforcement, buying and selling patent portfolios, and the preparation and prosecution of patent applications. 

"Jerry is widely recognized as an IP expert with world-class experience in many areas of intellectual property, and we are very pleased to have an individual of his caliber serve as a Director," said Carl Schlachte, Chairman of the Board, MOSAID. "We look forward to Jerry's input as MOSAID continues its growth as a leading patent licensing and innovation company."

MOSAID also announced that Rob Kramer, Managing Partner of Altitude Capital Partners, has stepped down from the Company's Board of Directors. Mr. Kramer was appointed as a Director of the Company in January 2007. He served as a member of the Human Resources Committee.

"As a seasoned IP investment professional, Rob brought his experience to bear on MOSAID's strategy and operations," said Schlachte. "The Board would like to thank Robert for his significant contributions to MOSAID's success over the last several years."

About MOSAID

MOSAID Technologies Inc. is one of the world's leading intellectual property companies. MOSAID develops semiconductor memory technology and licenses patented intellectual property in the areas of semiconductors and telecommunications systems. MOSAID counts many of the world's largest technology companies among its licensees. Founded in 1975, MOSAID is based in Ottawa, Ontario. For more information, visit www.mosaid.com.

Forward Looking Information

This document and certain other public documents incorporated by reference in this document, contain forward-looking statements to the extent they relate to MOSAID or its management, including those identified by the expressions "anticipate," "believe," "foresee," "estimate," "expect," "intend," "could," "may," "plan," "will," "would" and similar expressions. Similarly, statements in this document that describe MOSAID's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. These forward-looking statements are not historical facts, but rather reflect MOSAID's current expectations regarding future events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results, performance or achievements to differ materially from those in such forward-looking statements. Assumptions made in preparing forward-looking statements and financial guidance include, but are not limited to, the following: MOSAID's continued expansion of its patent portfolio and of its opportunities for future patent licensing revenue as a result of MOSAID's acquisition of patents from third parties and from development of new inventions; DRAM manufacturers continuing to infringe MOSAID's patents; the timing and amount of MOSAID's litigation expenses; MOSAID's ability to sign new patent licensees; current assumptions as to the identification of products that are unlicensed to MOSAID's wireless patents; and the timing and amount of MOSAID's Research & Development expenses.

Factors that could cause actual results to differ materially from expected results include, but are not limited to, the following: MOSAID's ability to negotiate settlements with licensees; legal rulings and/or regulatory investigations, audits or complaints having an adverse impact on the validity, enforceability, royalty rates, potential royalty rates, and strength or breadth of coverage of MOSAID's essential and/or nonessential patents (including, but not limited to, adverse results from litigation or proceedings in patent offices and government regulatory agencies in various countries around the world); judicial, legislative or regulatory changes that impair the ability of patent holders to earn licensing revenues; worldwide economic conditions and demand for technology products; economic, social, and political conditions both globally and in the countries in which MOSAID or patent licensees operate, including conflict, war and, other security risks, health conditions, possible disruptions in transportation networks and fluctuations in foreign currency exchange rates; non-payment or delays in payment by or insolvency of licensees or other debtors; variability in patent licensees' sales of licensed products; failure to maintain and enforce MOSAID's existing patent portfolio, or failure to obtain valuable patents as a result of R&D activities, or failure to acquire valuable patents from third parties; MOSAID's ability to recruit and retain skilled personnel; change in MOSAID's financial position; consolidation of MOSAID's licensees; natural events, such as severe weather and earthquakes in the locations in which MOSAID or patent licensees operate; and changes in the tax rate applicable to MOSAID as the result of changes in the tax law in the jurisdictions in which profits are determined to be earned and taxed, the outcome of tax audits and the ability to realize deferred tax assets.

Except as may be required by applicable law or stock exchange regulation, we undertake no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Additional information identifying risks and uncertainties affecting MOSAID's business and other factors that could cause MOSAID's financial results to fluctuate are contained in MOSAID's Annual Information Form, under the section entitled "Risk Factors," and in MOSAID's other public filings available online at www.sedar.com.

Contact Information

  • MOSAID Technologies Inc.
    Michael Salter
    Senior Director
    613-599-9539 x1205
    salter@mosaid.com