UPDATE 1-Mosaid inks new patent license deal With Taiwan's Nanya

* Says royalty bearing agreement begins on Oct. 1

* Says financial details are confidential

July 20 (Reuters) - Mosaid Technologies Inc MSD.TO said on Tuesday it signed a new seven-year patent license agreement with Taiwan's Nanya Technology Corp (2408.TW).

Financial details of the non-exclusive semiconductor memory license are confidential, the patent licensing firm said in a statement. The new royalty bearing patent portfolio license agreement begins on Oct. 1, following the expiration of the current five-year agreement on Sept. 30.

The new deal grants Nanya, a dynamic random access memory (DRAM) vendor, a license under Mosaid's memory patents for all DRAM and other semiconductor memory products sold worldwide under Nanya's brand name.

Shares of Ontario-based Mosaid were down 5 Canadian cents at C$22.15 Tuesday on the Toronto Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Unnikrishnan Nair)