Cirrus Logic Received $4 Million for DRAM Patents Sold to Intellectual Ventures
July 15, 2011- Cirrus Logic was paid $4 million for the DRAM patents that are currently the subject of litigation brought by Intellectual Ventures against semiconductor memory companies, Hynix and Elpida. According to USPTO records, Cirrus assigned the patents to an Huai Technologies, LLC on August 24, 2010. Huai subsequently assigned the patents to Intellectual Ventures II in December 2010. In Cirrus’ 10-K filed in May 2011, the company reported, ”On July 13, 2010, we entered into a Patent Purchase Agreement for the sale of certain Company owned patents. As a result of this agreement, on August 31, 2010, the Company received cash consideration of $4.0 million from the purchaser.” Intellectual Ventures filed the first DRAM-related suit against the two companies in December 2010 and a subsequent suit on July 11, 2011 against the companies as well as a number of their customers.