Matsushita to license 3DO technology

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3DO Co. said it has signed a definitive agreement with Matsushita Electric Industrial Co. for $100 million to license its 64-bit M2 technology. Matsushita will pay 3DO a $100 million license fee plus additional royalties. 3DO expects to receive $60 million next week. The remaining $40 million is scheduled to be received by the middle of next year.

Under the agreement, Matsushita has exclusive rights to use the M2 technology for products including 64-bit videogame systems, Digital Video Disc (DVD) players and interactive TV set-top boxes.

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