Transmeta grants technologies, IP license to Nvidia

The contract gives Nvidia a non-exclusive and fully paid-up license to all of Transmeta's patents and patent applications, and a non-exclusive license and transfer of some Transmeta advanced power management and other computing technologies.

The agreement states that Nvidia will pay Transmeta a one-time, nonrefundable license fee of $25 million. It also covers mutual general releases of all claims by both parties.

"We are very pleased to finalize the license agreement with Nvidia," said Les Crudele, president and CEO, Transmeta. "We believe that this agreement both shows the value of Transmeta's IP and technologies to our industry and provides Transmeta stockholders a return from the strategic licensure of our IP rights," he added.