BrainChip Holdings Ltd (ASX: BRN), (OTCQX: BCHPY) As announced on Monday, Brainchip has entered into a Licensing Program Agreement with MegaChips, a pioneer in the Application Specific Integrated Circuit (ASIC) industry.
The agreement has an initial term of four years under which Brainchip grants MegaChips a non-exclusive, worldwide intellectual property license for use in designing and manufacturing BrainChip’s Akida technology into external customers’ system on chip designs. MegaChips will pay a license fee for the grant of the license, which will be paid in tranches over the next two years, with the first payment received on signing the agreement.
Brainchip also agrees to provide proof of concept engineering services, Akida sales and development support and software support to MegaChips’ customers under the agreement and has agreed to enter into a Distribution Agreement with MegaChips for the distribution of certain Akida products in Japan.
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