Cypress Semiconductor strikes wide-ranging patent deal with Intellectual Ventures

Cypress Semiconductor has reached a patent licensing agreement with Intellectual Ventures, becoming the latest in a series of large technology companies to license the patent portfolio amassed by former Microsoft tech chief Nathan Myhrvold’s company.

The San Jose, Calif.-based chipmaker disclosed the agreement in a regulatory filing, saying that it will “will receive a license to IV’s substantial patent portfolio” and sell some of its patents to Intellectual Ventures.

It’s the latest in a string of patent deals by Intellectual Ventures. Others that have licensed patents from IV in recent months include American Express, LG Electronics, and Wistron.

Here’s the full text of Cypress Semiconductor’s filing.

On April 30, 2012, we entered into a Patent License Agreement (“PLA”) with IV Global Licensing LLC (“IV”) under which we and our majority-owned subsidiaries will receive a license to IV’s substantial patent portfolio. This transaction will allow us and IV to continue to develop our strategic relationship regarding patent monetization and litigation defense. Under the terms of the PLA, we have agreed to pay a license fee and to purchase certain litigation defense services from IV in the future. In addition, in a related agreement, IV is expected to make certain patent purchases from us in the near term. The exact terms and conditions of the PLA are subject to confidentiality provisions, and are the subject of an application for confidential treatment to be filed with the SEC.