burp: Gotta be today's upgrade by JP Morgan to Overweight due to expanded Sony deal and avoidance of bunkruptcy. I'd BOOYA, but bgt @ 7.8 & sold @ 12.47 two years ago. Haven't paid atention since SanDisk was beating them to death.
LONDON (MarketWatch) -- J.P. Morgan upgraded digital media manufacturer Lexar Media, Inc. to overweight from neutral, citing the recent deal with Sony Corp. to expand their licence agreement. The broker told clients that while the Lexar's margins are vulnerable to reduced wafer allocations by Samsung or price action by SanDisk Corp, the risk of bankruptcy now seems remote.
FREMONT, Calif.--(BUSINESS WIRE)--Sept. 30, 2005--Lexar Media, Inc. (Nasdaq:LEXR - News), a leading manufacturer and marketer of high-performance digital media and accessories, today announced that it has expanded its licensing relationship with Sony. Under the new agreement, Lexar has granted to Sony a license to Lexar's patents for Sony products not covered by the companies' existing cross-license agreement. This agreement builds on the relationship that began in early 2000, when Lexar and Sony signed a fundamental patent cross-license agreement under which Lexar gained the right to manufacture and sell the Memory Stick line of products.
"As one of the first companies ever to work with NAND flash memory -- with a heritage dating back to 1994 -- Lexar has some of the earliest patents on flash system design and performance," said Eric Whitaker, executive vice president and general counsel, Lexar. "Our cross license with Sony has been very successful for both companies, giving each design freedom and allowing Lexar to participate in the enormous growth of the key Memory Stick format. The expansion of our licensing agreement with Sony further demonstrates the mutual respect and cooperation between the companies. We are confident that broadening our strategic partnership will benefit both Lexar and Sony and allow us to better meet the needs of customers."
About Lexar Media, Inc.
Lexar is a leading marketer and manufacturer of flash memory cards, USB flash drives, card readers and ATA controller technology for the digital photography, consumer electronics, industrial and communications markets. The company holds over 87 issued or allowed controller and system patents, and licenses its technology to companies including Olympus, Samsung Electronics, SanDisk and Sony. For more information, please call 1-800-789-9418 or visit www.lexar.com.
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