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/ Adam Richardson

S3 To Receive $42 Million for a Patent License

S3 Incorporated announced it will receive $42 million from United Microelectronics Corporation (UMC).

S3 To Receive $42 Million for a Patent License gets a June 1999 update. S3 Incorporated announced it will receive $42 million from United Microelectronics Corporation (UMC).

Under the terms of the agreement, S3 will license UMC 29 patents covering multimedia products and integrated circuit manufacturing technology for use in products to be manufactured by the UMC Group. S3 will also be releasing UMC from contingencies associated with a previous sale of USC stock by S3. Payment will be received over the term of the license and is contingent on certain USC milestones. UMC is the major shareholder in United Semiconductor Corporation (USC), a foundry joint venture formed by UMC, S3 and Alliance Semiconductor in 1995.