Apple retains exclusive rights to use Liquidmetal alloys through 2016

Apple has extended its exclusive agreement to use Liquidmetal Technologies’ metal alloys.

According to a document filed with the SEC, Apple has extended its exclusive deal with Liquidmetal Technologies to use its metal alloys in products through February 5, 2016. From the Liquidmetal Technologies:

On June 17, 2015, Liquidmetal Technologies, Inc. (the “Company”) and Apple Inc. (“Apple”) entered into a third amendment (the “Third Amendment”) to the Master Transaction Agreement that was originally entered into on August 5, 2010 and amended on June 15, 2012 and May 17, 2014 (the “MTA”). Under the MTA and its first two amendments in 2012 and 2014, 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, 2015, 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 Third Amendment, the parties agreed to extend the February 5, 2015 date to February 5, 2016. The Third Amendment has an effective date of February 26, 2015.

The licensing agreement was originally effective from August 5, 2010 though June 15, 2012. Apple then extended the agreement twice, first to February 5, 2014 and then through February 5, 2015. So far, nothing of note has come out of Apple’s exclusive rights to use Liquidmetal’s alloy other than a SIM injector tool included with the iPhone 3G and 3GS. It’s unclear if and when we will see a bigger push into using the company’s alloys, but Apple clearly has plans for something.

Source: Liquidmetal Technologies; Via: MacRumors

Source: iMore

About Bhavesh Rabari

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