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Transmeta and Culturecom Mutually Terminate Contingent Processor Technology License and Sale Agreement for the Chinese Market
Thursday February 9, 7:30 am ET
SANTA CLARA, Calif.--(BUSINESS WIRE)--Feb. 9, 2006--Transmeta Corporation (NASDAQ:TMTA - News), the leader in efficient computing technologies, announced today that it has mutually agreed with Culture.com Technology Limited (Culturecom) to terminate two related asset purchase and license agreements with Culturecom. Under those agreements, which the parties announced in May 2005, Transmeta would have sold its Crusoe(TM) product line to Culturecom and would have licensed Transmeta's 130-nanometer Efficeon(TM) technology to Culturecom to make and sell Efficeon-based products in China. The two companies mutually and amicably elected to terminate those agreements at this time based upon their mutual concern that they could not satisfy all of the approval conditions necessary to close the agreements in a timely fashion.