Rim Semiconductor Company (OTCBB:RSMI), an emerging provider of semiconductors to the broadband telecommunications industry, today announced that it acquired substantially all of the assets of 1021 Technologies, Inc. of Kanata, Ontario, Canada, and 1021 Technologies KK of Yokohama, Japan. These assets include 16 patents and patent applications in the digital subscriber line (DSL) area, related software and hardware, a technology license agreement and other items used in the business of 1021 Technologies. The Company intends to use these assets in future releases of the Embarq(TM) E30 transport processor and in other potential products in the Embarq(TM) family.
The Company paid $150,000 and issued 500,000 shares of its common stock to purchase these assets. The common stock issued in this transaction is not registered under the Securities Act of 1933 or applicable state law, and the Company has no obligation to register such shares.
Rim Semi also announces that Dr. Ping-Ya Zhao, founder and chief technology officer of 1021 Technology, Inc., has joined the Company as leader of Rim Semi’s new Kanata development center.
“As a young company, it is important for us to execute on business opportunities as they arise,” said Brad Ketch, president and chief executive officer of Rim Semiconductor. “I am very pleased to welcome Dr. Zhao to our engineering team.”
About Rim Semiconductor
Rim Semiconductor Company (OTCBB:RSMI) has developed technology for telecommunications companies to deliver demanding new video and data services with lower network costs. The company’s products allow data to be transmitted at greater speed and across extended distances over existing copper wire — all with the highest quality of service — for a better end-user experience.