OTTAWA, ONTARIO--(Marketwire - Dec. 23, 2011) - MOSAID Technologies Inc. (TSX:MSD) announced today the completion of the statutory arrangement pursuant to which 7577796 Canada Inc., a corporation directly or indirectly owned by investment funds under the management of Sterling Fund Management, LLC, has acquired all the outstanding common shares of MOSAID for a cash payment of $46.00 per share. The total value of the transaction is approximately $590 million.

With the completion of the arrangement, MOSAID's shares are expected to be de-listed from the Toronto Stock Exchange following the close of trading on December 28, 2011 (the next trading day after the date of closing of the arrangement).

As previously disclosed, the transaction was approved by shareholders on December 19, 2011 and was approved by the Ontario Superior Court of Justice on December 22, 2011.

To the extent they have not already done so, registered MOSAID shareholders are encouraged to complete, sign, date and return the letter of transmittal which was delivered together with the materials relating to the December 19, 2011 special meeting of shareholders along with the share certificate representing your MOSAID shares so that payment for shares can be sent to the correct address as soon as possible. Instructions for completing and submitting letters of transmittal are included on the letter of transmittal, which is also available at [ www.SEDAR.com ]. Registered shareholders that have previously submitted properly completed letters of transmittal and share certificates will receive a cheque in payment for their shares directly from CIBC Mellon Trust Company, the depositary for the arrangement, as soon as possible.

Shareholders who hold MOSAID shares through a broker, trustee, financial institution or other intermediary, will receive payment through such intermediary and should seek instructions from such intermediary.

About MOSAID

MOSAID Technologies Inc. is one of the world's leading intellectual property management companies. MOSAID monetizes patented intellectual property in the areas of semiconductors and communications, and develops semiconductor memory technology. MOSAID counts many of the world's largest technology companies among its licensees. Founded in 1975, MOSAID has offices in Ottawa, Ontario, Plano, Texas and Luxembourg. For more information, please visit [ www.mosaid.com ] and [ http://InvestorChannel.mosaid.com ]

About Sterling Partners

Sterling Partners is a leading private equity firm with over 25 years of experience partnering with entrepreneurs to build market-leading businesses. With approximately $5 billion of assets under management, Sterling Partners invests growth capital in industries with positive, long-term trends and provides ongoing support to management through a dedicated team of industry veterans, operators, strategy experts and human capital professionals. Sterling Partners is a leader in education, healthcare and business services and has offices in Chicago, Baltimore, and Miami.

For more information, please visit [ www.sterlingpartners.com ]

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