MoSys (News - Alert), Inc., provider of serial chip-to-chip communications solutions that support very high bandwidth performance for advanced networking systems, announced that it has signed a purchase agreement with Invensas Corporation, a wholly owned subsidiary of Tessera Technologies (News - Alert), Inc.

Len Perham, president and chief executive officer of MoSys, said that, “We are pleased with this transaction as it provides MoSys and its current licensees with continued access to the patents and allows us to strengthen our balance sheet. The combination of the retained license and the non-dilutive source of funding made this transaction very appealing.”

The company in its announcement stated that under the terms of the agreement, 30 of its foreign memory technology patents and 43 United States patents were purchased by Invensas in a deal valuing $35 million which was paid out in cash. MoSys also announced that it will retain the royalty-free license for the patents which will be used to cover its extensive Bandwidth Engine line of products and technology partners in addition to retaining related rights for providing both current and future partners with sublicenses.

Wholly owned subsidiary of Tessera Technologies, Inc., Invensas Corporation, is involved in the acquisition, development and in the monetization of intellectual property. The company deals within circuitry design and memory modules as well as 3-D systems, and advanced interconnect technologies areas within the sectors of mobile, storage and consumer electronics.

In a release, Simon McElrea, president of Invensas Corporation, said that, “The MoSys patents are very relevant to industry-standard DRAM products that have been shipping from the fabs of our potential licensees. The MoSys transaction represents an important milestone in our ongoing acquisition program.”

Headquartered in Santa Clara, California, MoSys, Inc., provides serial chip-to-chip communications solutions which have been designed to support optimized bandwidth performance for advanced networking systems. The company's Bandwidth Engine product line of ICs has been developed through the integration of its patented 1T-SRAM high-density memory and its high-speed interface technology solution.

In other news, Tessera Technologies, Inc. recently announced that Samsung (News - Alert) Electronics Co., Ltd. exercised the renewal option in its Jan. 1, 2005 license agreement with Tessera, Inc. to extend the term of that license to May 17, 2017.