History (1996): EMC Acquired Patent Portfolio of MTI Technology

EMC (Hopkinton, MA) has acquired the patent portfolio of MTI Technology (Anaheim, CA) covering 29 US patents and non US counterparts, as well as certain pending applications, in the areas of RAID, fault-tolerant and network technologies.

EMC will pay $40 million to MTI over a period of 5 years, and the 2 companies will share additional royalties under certain conditions.

The agreement also includes a 5-year licensing partnership, providing each company with non-exclusive licensing rights to each other’s existing patent rights, a well as certain future patents.

This article is an abstract of news published on the former paper version of Computer Data Storage Newsletter on issue 98, published on March 1996.