AUSTIN, Texas--(BUSINESS WIRE)--April 1, 2004--Staktek Group L.P., a subsidiary of Staktek Holdings, Inc. (Nasdaq:STAK - News), today announced it has resolved its two lawsuits with SimpleTech, Inc. The two companies have agreed to a mutual dismissal of the litigation currently pending in the federal district courts of the Western District of Texas, Austin Division, and the Central District of California, Southern Division.
"The successful resolution of these two lawsuits demonstrates the strength of our intellectual property portfolio, with over 70 patents and patent applications pending. We are very pleased to have reached a mutual agreement regarding the two outstanding patent infringement lawsuits with SimpleTech," said James Cady, president of Staktek. "We continue to develop innovative new product and service offerings that address the needs of our OEM customers and their supply chain partners. Protecting our intellectual property is a fundamental tenet of our business model." In July 2003, SimpleTech sued Staktek in California for infringement of SimpleTech's reissue stacking patent by making and selling the Staktek Value Stakpak® product.
In settlement of this matter, SimpleTech has agreed to not sue Staktek, its customers, or licensees in the future for patent infringement in connection with making or selling Staktek's Value Stakpak product. In October 2003, Staktek sued SimpleTech in Texas for infringement of certain of Staktek's early patents by making and selling SimpleTech's IC Tower product. In settlement of this matter, Staktek has agreed to not sue SimpleTech, its customers, or licensees in the future for patent infringement in connection with making or selling the SimpleTech IC Tower product. Under the terms of the settlement, no money was exchanged, and neither party licensed its technology to the other.
About Staktek
Staktek is a rapidly growing provider of IP and manufacturing services for the cost-effective miniaturization of electronic components and systems for original equipment manufacturers, silicon manufacturers, memory module manufacturers and contract manufacturers. Staktek's high-density memory stacking solutions increase operational performance by doubling, tripling, or quadrupling memory in the same physical footprint as the underlying packaged component. With an IP portfolio of over 70 patents and patent applications pending, the company offers flexibility for customers, including outsourced manufacturing, technology licensing and custom engineering.
Headquartered in Austin, Texas, Staktek employs more than 400 people at its two world-class manufacturing locations in Austin, Texas and Reynosa, Mexico. For more information, visit www.staktek.com .
