NEWPORT BEACH, CA -- 10/06/08 --
Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network
infrastructure applications, today announced that it has completed the sale
of certain non-core patents for $2 million, which will be reported in the
company's fourth quarter revenues. The patent sale agreement includes
potential future Mindspeed revenues derived from licensing royalties.
Specific terms of the sale are confidential.
Mindspeed has a broad intellectual property portfolio with a number of
patents which are no longer core to its business focus. For the past year
the company has generated revenues from patent sales and expects to enter
into additional strategic non-core patent sales or licensing arrangements
in the future.
About Mindspeed Technologies®
Mindspeed Technologies, Inc. designs, develops and sells semiconductor
networking solutions for communications applications in enterprise, access,
metropolitan and wide-area networks.
The company's three key product families include high-performance analog
transmission and switching solutions, multiservice access voice-over-IP
processors designed to support voice and data services across wireline and
wireless networks and WAN communication products such as T/E carrier
transmission devices and ATM/MPLS network processors.
Mindspeed's products are used in a wide variety of network infrastructure
equipment, including voice and media gateways, high-speed routers,
switches, access multiplexers, cross-connect systems, add-drop multiplexers
and digital loop carrier equipment.
To learn more, visit us at www.mindspeed.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended. Such
statements include information regarding the company's expectations, goals
or intentions, including but not limited to, statements regarding future
revenues from licensing royalties, patent sale or licensing arrangements
and the company's intellectual property portfolio. These forward-looking
statements are based on management's current expectations, estimates,
forecasts and projections about the company and are subject to risks and
uncertainties that could cause actual results and events to differ
materially from those stated in the forward-looking statements. These
risks and uncertainties include, but are not limited to: future operating
losses; cash requirements and terms and availability of financing;
worldwide political and economic uncertainties and specific conditions in
the markets we address; loss of or diminished demand from one or more key
customers or distributors; fluctuations in the price of our common stock
and our operating results; our ability to attract and retain qualified
personnel; constraints in the supply of wafers and other product components
from our third-party manufacturers; doing business internationally; pricing
pressures and other competitive factors; successful development and
introduction of new products; our ability to successfully and cost
effectively establish and manage operations in foreign jurisdictions;
industry consolidation; order and shipment uncertainty; our ability to
obtain design wins and develop revenues from them; lengthy sales cycles;
the expense of and our ability to defend our intellectual property against
infringement claims by others; product defects and bugs; and business
acquisitions and investments, as well as other risks and uncertainties,
including those detailed from time to time in our Securities and Exchange
Commission filings. Forward-looking statements contained in this press
release are made only as of the date hereof, and the company undertakes no
obligation to update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact:
Thomas Stites
Mindspeed Technologies, Inc.
(949) 579-3650
