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Micron, Toshiba Settle Lexar Litigation

Toshiba and Micron Technology have agreed to settle all pending NAND flash memory-related litigation between Toshiba and Lexar Media, which Micron acquired in June. Under the deal, Toshiba will purchase certain of Micron's semiconductor technology patents and license patents previously owned by Lexar Media in exchange for a total $288 million payment.

"We appreciate that Micron approached this issue in a positive spirit that allowed the parties to work together to bring all outstanding litigation and claims to a full and final resolution," Tokyo-based Toshiba said in a statement. "We have enjoyed a strong relationship with Toshiba for a number of years, have the highest respect for Toshiba as an innovator in flash technology and see no merit in continuing to pursue this litigation," Micron CEO Steve Appleton said in a statement.

The Street

Posted by | Fri, Sep 15, 2006 - 07:20 PM