Samsung and SanDisk signed a definitive agreement to cross license their patents

By SanDisk and Samsung Electronics announced today that they have signed a definitive agreement to extend the cross-licensing its portfolio of semiconductor patents. In addition, the company signed a contract for the supply of flash memory, which Samsung will continue to provide the guaranteed portion of its SanDisk flash memory. The new agreement will enter into force after the current agreement for cross licensing and supply will expire on August 14, 2009, and will operate for seven years from that date.

Financial terms of these agreements are not disclosed.