Adeia and LG Electronics Renew Media IP License Agreement

Rhea-AI Summary

Adeia Inc. (Nasdaq: ADEA) has renewed its intellectual property (IP) license agreement with LG Electronics, Inc. The multi-year deal extends their longstanding partnership and covers Adeia's extensive media IP portfolio. The agreement encompasses technologies in digital video, content discovery, and smart home innovations.

Dr. Mark Kokes, Adeia's chief licensing officer for media, emphasized the enduring value of their intellectual property and its role in enabling cutting-edge entertainment experiences for consumers worldwide. This renewal highlights Adeia's position as a leading technology innovator and demonstrates the ongoing relevance of its portfolio in the rapidly evolving consumer electronics industry.

Positive

• Renewal of multi-year IP license agreement with LG Electronics
• Agreement covers a wide range of technologies in Adeia's media IP portfolio
• Reinforces Adeia's position as a leading technology innovator in the consumer electronics industry

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• None.

Longstanding Partnership Continues with Multi-Year Deal

SAN JOSE, Calif., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), a leading technology company bringing technology from incubation to reality, today announced the renewal of its intellectual property (IP) license agreement with LG Electronics, Inc. (LG). This multi-year agreement extends the longstanding relationship between the two companies, encompassing Adeia's expansive media IP portfolio.

"We are pleased to continue our partnership with LG, which, for decades, has been a global leader in consumer electronics," said Dr. Mark Kokes, Adeia’s chief licensing officer, media. "This renewal underscores the enduring value of our intellectual property and its importance in enabling cutting-edge entertainment experiences for consumers worldwide."

The renewed agreement covers a wide range of technologies within Adeia's media IP portfolio, including innovations in digital video, content discovery, and smart home technologies. It further highlights Adeia's position as a leading technology innovator and demonstrates the ongoing relevance of its portfolio in the rapidly evolving consumer electronics industry.

For more information about Adeia and its innovations, please visit www.adeia.com.

About Adeia

Adeia invents, develops and licenses fundamental innovations that shape the way millions of people explore and experience entertainment in an increasingly connected world. From TVs to smartphones, and across all types of entertainment experiences, Adeia's technologies allow users to manage content and connections in a way that is smart, immersive and personal. For more information, please visit www.adeia.com.

For Information Contact:

Investor Relations
Chris Chaney
IR@adeia.com

Media Relations
JoAnn Yamani
press@adeia.com

FAQ

What is the significance of Adeia's renewed IP license agreement with LG Electronics?

The renewed agreement extends Adeia's longstanding partnership with LG Electronics, covering a wide range of technologies in Adeia's media IP portfolio. It reinforces Adeia's position as a leading technology innovator and demonstrates the ongoing relevance of its portfolio in the consumer electronics industry.

What technologies are included in Adeia's IP license agreement with LG Electronics?

The agreement covers technologies within Adeia's media IP portfolio, including innovations in digital video, content discovery, and smart home technologies.

How does the renewed agreement with LG Electronics impact Adeia's (ADEA) market position?

The renewal underscores the enduring value of Adeia's intellectual property and strengthens its position as a leading technology innovator in the rapidly evolving consumer electronics industry.

When was the IP license agreement between Adeia (ADEA) and LG Electronics renewed?

The renewal of the IP license agreement between Adeia and LG Electronics was announced on September 16, 2024.