SanDisk signs a patent cross-license agreement with PNY to settle patent cases.
SanDisk Corp said it signed a patent cross-license agreement with PNY Technologies to settle patent cases it filed against PNY regarding flash memory products.
Under the terms of the cross-license, specific terms of which were not disclosed, PNY will pay SanDisk royalties on flash memory products that were not previously licensed.
The agreement allows PNY to continue marketing and selling USB drives and CompactFlash cards, now as SanDisk licensed products.
(Reporting by Ratul Ray Chaudhuri in Bangalore)