WASHINGTON (dpa-AFX) - Tuesday, Netlist, Inc. (NLST.PK) announced Patent License and Settlement agreements with Micron Technology, Inc. (MU), aiming to settle and mutually release all pending legal proceedings between the companies.
Under the agreements, Micron will receive a 5-year term license to Netlist's patent portfolio, including patents covering server DIMMs and High Bandwidth Memory technologies.
Meanwhile, Micron will pay Netlist $30 million per quarter from the fourth quarter of 2026 through the third quarter of 2031, totaling $600 million during the term.
Speaking about the agreements, Netlist CEO C.K. Hong stated that the latest move further validates the value of the company's AI memory technologies.
NLST closed trading at $5.65, down 0.18 percent on the OTC Markets. Meanwhile, MU was trading at $1,069.60, up 0.53 percent before the bell on the Nasdaq.
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