Spansion To Sell Italian Operations, Retain IP Rights

Law360, New York (January 21, 2010, 1:25 PM EST) -- In an effort to decrease costs without losing out on potential benefits, bankrupt flash memory producer Spansion Inc. has agreed to transfer operations of its Italian research division to Elpida Memory Inc. while retaining partial ownership of the technology developed there.

The agreement, approved Wednesday by Judge Kevin J. Carey in the U.S. Bankruptcy Court for the District of Delaware, transfers the assets, liabilities and costs associated with running the division to Elpida, but lets Spansion continue to collaborate on research, own the rights to its...
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