Benzinga | Apr 12, 2021 08:34AM EDT

MoSys Stock Is Trading Higher On Acquiring Five Custom Algorithm Search Patents

* Semiconductor and IP solutions provider MoSys Inc (NASDAQ: MOSY) has extended its patent portfolio through the acquisition of five patents in the area of search and classification algorithms.

* MoSys's Stellar Packet Classification IP uses search and classification algorithms to deliver networking search or data processing solutions for Cloud infrastructure applications, including routing, 5G UPF, SDN, NFV, load balancing, processor offload, and security.

* The Stellar Packet Classification IP will help OEMs and network operators deliver configurable platforms supporting millions of rules at hundreds of gigabits per second, according to MoSys CTO Michael Miller.

* MoSys also supports selected Intel Corp (NASDAQ: INTC) and Xilinx Inc (NASDAQ: XLNX) FPGA families and products.

* The financial terms of the transaction were not disclosed.

* MoSys held $11.6 million in cash and equivalents as of Mar. 4, 2021.

* Price action: MOSY shares traded higher by 4.03% at $3.87 in the premarket session on the last check Monday.