Liquidmetal Technologies, who recently signed a licensing agreement with Apple, has 11 million reasons to be happy. Apparently, the deal inked betweent the two companies helped Liquidmetal Technologies settle an $11 million debt–not too shabby. The value of the deal between Apple and Liquidmetal isn’t known, but reports say that it is close to at least $10.9 million.
According to AppleInsider:
The payments were revealed in Liquidmetal’s 8-K filing with the U.S. Securities and Exchange Commission this week. While it is still unknown exactly how much Apple paid Liquidmetal for the exclusive rights to use its more durable metal alloys in portable electronic devices, the filing reveals the deal was likely worth at least $10.9 million.
“The foregoing obligations were paid with proceeds from the previously announced strategic licensing transaction with Apple Inc.,” the filing reads.
Apple has licensed Liquidmetal products for use in consumer electronics, while the metal alloy company is stil free to license its products to other customers for non-consumer electronics use.