Apple Extends Rights to Liquidmetal Technologies Alloys for Consumer Electronics
According to a filing with the SEC, Apple has renewed exclusive rights to utilize Liquidmetal Technologies metal alloys in consumer electronics items under the MTA.
The license was initially purchased in 2010 with an expiry in February 2014. The current renewal will lengthen the agreement through February of 2015.
On May 19, 2014, Liquidmetal Technologies, Inc. (the “Company”) and Apple Inc. (“Apple”) entered into an second amendment (the “Second Amendment”) to the Master Transaction Agreement that was originally entered into on August 5, 2010 (the “MTA”) and amended on June 15, 2012 (the “First Amendment”). Under the MTA and the First Amendment, the Company was obligated to contribute to Crucible Intellectual Property, LLC, a special purpose subsidiary of the Company, all intellectual property acquired or developed by the Company from August 5, 2010 through February 5, 2014, and all intellectual property held by Crucible Intellectual Property, LLC was exclusively licensed on a perpetual basis to Apple for the field of use of consumer electronic products under the MTA. Under the Second Amendment, the parties agreed to amend the MTA and the First Amendment to extend the February 5, 2014 date to February 5, 2015.
According to an earlier report published in this year, Apple is focused in using Liquidmetal Technologies for touch sensors, home buttons and tamper-resistant screws.