The acquisition of System Industries Inc seems to have been a buy too far for MTI Technology Corp, and it is raising cash by selling its patent portfolio to Hopkinton, Massachusetts-based EMC Corp for $40m over five years. The two companies will share additional royalties under certain conditions. The agreement includes a five-year licensing partnership providing each company with non-exclusive licensing rights to each other’s existing patent rights, and some future patents. The portfolio covers 29 US patents and their non-US counterparts, and some pending applications. They are in the areas of redundant arrays of independent disks, and other fault-tolerant and network technologies.
