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e.Digital Announces Licensing and Settlement Agreement With Olympus
Thursday, April 02, 2009
San Diego, CA -- e.Digital Corporation (OTCBB: EDIG), a leading technology innovator of dedicated portable entertainment systems and patented flash memory-related technology, announced today that it has entered into a licensing and settlement agreement with Olympus. Under the terms of the confidential agreement, Olympus obtained a license and release on all e.Digital foreign and domestic patent rights, including the Company's Flash-R™ patent portfolio, and e.Digital received a one-time licensing fee.
e.Digital's Flash-R patent portfolio covers certain aspects of the use of flash memory in the large and growing portable electronic products market. The Company introduced the first portable recorder with removable flash memory in 1993 and believes its patent portfolio to be essential to many consumer electronics products that utilize flash memory including cell phones, digital cameras, camcorders, PDAs and other popular devices.
In September 2007 and March 2008, the Company filed its first round of Flash-R portfolio patent infringement litigation against eight defendants.
"We're pleased to have ended our fiscal 2009 favorably licensing and settling six of the eight cases that initiated our efforts to monetize our important IP portfolio," remarked Robert Putnam, senior vice president of e.Digital Corporation. "We look forward to further legal and licensing activity this fiscal year."
About e.Digital Corporation
e.Digital is a leading innovator of dedicated portable entertainment systems through its proprietary eVU™ product line. e.Digital also owns and is pursuing the monetization of its Flash-R™ portfolio of flash memory-related patents. e.Digital was the first company to employ and patent important aspects of the use of removable flash memory in portable recording devices. For more information about e.Digital and eVU, please visit: www.edigital.com.
Safe Harbor statement under the Private Securities Litigation Reform of 1995
All statements made in this document, other than statements of historical fact, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act. You should not place undue reliance on these statements. We base these statements on particular assumptions that we have made in light of our industry experience, the stage of product and market development, expected future developments and other factors that we believe are appropriate under the circumstances. These forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the businesses of the Company and the industries and markets in which the Company operates. Actual outcomes and results may differ materially from what is expressed or implied by the forward-looking statements. More information about potential factors that could affect the Company can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed with the Securities and Exchange Commission ("SEC"). e.Digital Corporation disclaims any intent or obligation to update these or any forward-looking statements, except as otherwise specifically stated by it.
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