SMT & Inspection |
Data I/O announces sale and<br>License back of patents
Data I/O has signed an agreement on November 15, 2007 for the sale of selected patents and patent applications to Leannoux Properties AG L.L.C. for net proceeds of approximately $3.3 million.
The proposed patents and patent applications to be sold relate primarily to technology used in Data I/O's Proline RoadRunner product line. Data I/O will retain a non-exclusive, royalty-free license to use the technology covered by these patents and applications. Additional payments are due to Data I/O Corporation upon license or transfer of the proposed patents and patent applications to certain third parties. However Data I/O Corporation does not currently anticipate receiving any such payments.
Most of the patents to be sold relate to technology that the company has been practicing for a number of years. The sale does not include technology related to the firm's most recent development programs.
