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Updated: July 8th, 2008 05:26 PM CDT

Genesis Microchip and Mobilygen Announce Technology Cross-Licensing and Joint Product Development Agreement

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Business Wire
via NewsEdge Corporation

SAN JOSE, Calif.--(BUSINESS WIRE)--April 27, 2006-- Alliance Enables Mobilygen to Utilize Faroudja Video Processing, Grants Genesis Access to Selected Mobilygen Advanced Codec Technologies, Including H.264

Genesis(R) Microchip Inc. (Nasdaq:GNSS), a world leader in the development of image processing technologies for flat-panel TVs, monitors, and other consumer display products, and Mobilygen, the leader in video codec solutions for mobile devices, today announced the companies have signed a cross-licensing and co-development agreement.

The agreement will give both companies access to each other's technologies for select markets and enables them to jointly define future products to complement existing product portfolios. In addition, Genesis has made an equity investment in Mobilygen and Elie Antoun, Genesis Microchip's president and CEO, has joined Mobilygen's board of directors.

"We are delighted to form this strategic alliance with Genesis, a leader in image and video processing technologies," said Dr. Joseph Perl, president and CEO of Mobilygen. "This alliance creates the opportunity for Mobilygen's technology to participate in new markets. With mobile devices becoming the consumer's entertainment hub, the need for high-quality image and video processing has become even more important. With Genesis's Faroudja technologies, we have access to the industry's best video processing."

"We are very pleased to enter into this agreement with Mobilygen, a forerunner in H.264 codec technology," said Elie Antoun, president and CEO of Genesis Microchip. "Mobilygen's industry-proven encoding and decoding technologies complement our strategy to develop world-class digital TV solutions for our customers."

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