MOSAID Technologies Inc.
TSX : MSD

MOSAID Technologies Inc.

May 13, 2011 09:00 ET

MOSAID Appoints J. Ian Giffen to Board of Directors

OTTAWA, ONTARIO--(Marketwire - May 13, 2011) - MOSAID Technologies Inc. (TSX:MSD) today announced that J. Ian Giffen, a highly regarded financial and technology advisor, has been appointed to the Company's Board of Directors.

Mr. Giffen has more than twenty years of experience as a board director, advisor and chief financial officer to technology companies and investment funds. He is currently Chairman of the Board, Descartes Systems Group Inc., and is a Director of MKS Inc., RuggedCom Inc. and Absolute Software Inc. Mr. Giffen also serves on the boards of several private companies.

"Mr. Giffen has a deserved reputation for his financial expertise and experience in influencing the growth of technology companies. We look forward to the important role he will play on our board," said Carl Schlachte, Chairman of the Board, MOSAID. "With the recent appointments of Jerry Mills, a skilled patent attorney, John Veschi, Nortel's Chief Intellectual Property Officer, and now Ian Giffen, this rounds out the strengthening of MOSAID's board and positions us well as we enter a new phase of development."

From 1992 to 1996, Mr. Giffen was Vice President and CFO of Alias Research Inc., until it was sold to Silicon Graphics Inc. for approximately $500 million. Since then, Mr. Giffen has advised private venture investment funds and served on the boards of public and private companies. He was on the board of Macromedia Inc. from 1997 until 2005, when it was sold to Adobe Systems for approximately $4 billion. Mr. Giffen also served on the boards of Certicom Corporation Inc., Changepoint Inc., Corel Corporation Inc., Delano Technology Inc., DPS Inc., Financial Models Inc., OpenText Corporation, Sierra Systems Inc. and 724 Solutions Inc.

About MOSAID

MOSAID Technologies Inc. is one of the world's leading intellectual property companies. MOSAID licenses patented intellectual property in the areas of semiconductors and communications technologies and develops semiconductor memory technology. 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

  • Investor and Media Inquiries
    Michael Salter
    Senior Director, Investor Relations
    and Corporate Communications
    613-599-9539 x1205
    salter@mosaid.com