Semiconductor memory makers SanDisk and SK Hynix agreed to settle a trade secret misappropriation suit and also expand and extend IP licensing relationship and commercial relationship. SK Hynix to supply latest DRAM products for MCP and SSD applications to SanDisk and settlement of the trade secret misappropriation suit filed by SanDisk in 2014, according to the new agreement.
SanDisk to license certain intellectual property rights to SK Hynix in exchange for license and royalty payments to be made over the duration of the agreement.
“We are pleased to have reached this important settlement and to expand our commercial relationship with SK Hynix. We believe this resolution acknowledges the value of our intellectual property while providing SanDisk access to DRAM solutions desired by our customers for their mobile and SSD applications for many years to come,” said Sanjay Mehrotra, president and chief executive officer of SanDisk.
“We believe this resolution is positive for both SK Hynix and SanDisk and our customers. We look forward to this renewal and extension of our business collaboration with SanDisk,” said Dr. Sung-Wook Park, president and chief executive officer of SK Hynix.