Ovonyx and Hynix Semiconductor today announced that they have entered into a long-term license agreement for memory products under Ovonyx' patents and intellectual property relating to Phase Change Memory (PCM) technology. The agreement also provides that Ovonyx will actively support Hynix' program to develop phase change memory products.

Ovonyx and its largest shareholder, Energy Conversion Devices, Inc., invented and pioneered the development of PCRAM technology, thereby gaining a fundamental understanding of PCRAM operation, including phase change memory devices, materials, processing, design, modeling, and performance optimization. Ovonyx PCRAM technology uses a reversible phase-change memory process that provides for high performance, dense, array-addressed semiconductor memory technology that can be used as cost-effective Flash and DRAM memory replacements, as well as in embedded applications such as microcontrollers and reconfigurable MOS logic.

Hynix also has considerable experience and a significant portfolio of intellectual property relating to semiconductor memories based on its many years of research and development in the general field. Hynix will continuously pursue emerging technology development and commercialization of phase change memory products.

"This agreement provides Hynix with the ability to facilitate the next generation memory development by cooperating together with Ovonyx," said Sung Wook Park, Head of R&D Division of Hynix. "We anticipate opening the new era of the PCM technology and lead to the successful commercialization."

"Hynix' strong manufacturing presence and world-class development teams in both the DRAM and Flash memory areas provide an excellent platform for competitive and innovative PCRAM memory development and production," said Tyler Lowrey, President & CEO of Ovonyx. "We are pleased and look forward to working with Hynix on its PCRAM product development program."