PNY Signs License Agreement with SanDisk

SanDisk Corporation and PNY Technologies today announced that PNY has signed a patent cross-license agreement with SanDisk to settle patent cases filed by SanDisk last year in Federal District Court and the International Trade Commission against PNY flash memory products including USB drives and CompactFlash cards. The cross-license agreement provides PNY a competitive market advantage by ensuring it can continue to market and sell USB drives and CompactFlash cards, now as SanDisk licensed products, and assures that PNY's supply of such flash memory products will not be disrupted by the patent claims pending against other parties. Under the terms of the cross-license, PNY will pay SanDisk royalties on flash memory products that were not previously licensed. The specific terms of the cross-license are confidential.

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