Adeia and Sharp Renew Multi-Year IP License Agreement
Adeia Inc. (Nasdaq: ADEA) announced the renewal of a multi-year worldwide license agreement with Sharp for Adeia's media intellectual property portfolio.
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Rhea-AI Summary
Adeia Inc. (Nasdaq: ADEA) announced the renewal of a multi-year worldwide license agreement with Sharp for Adeia's media intellectual property portfolio. The agreement extends a longstanding 25-plus year partnership between the two companies. Sharp, recognized as a global leader in consumer electronics and display technologies, will continue to utilize Adeia's media IP portfolio for its smart TVs and consumer electronics products.
Positive
- Secured multi-year IP license renewal with major consumer electronics manufacturer Sharp
- Maintains stable revenue stream through continuation of 25+ year licensing partnership
Negative
- None.
Details
News Market Reaction – ADEA
The recorded move for ADEA in the trading session of this news was -3.11%.
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Longstanding Partnership Continues with Multi-Year Deal
SAN JOSE, Calif., Dec. 04, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the company whose patented innovations shape the way the world explores and experiences entertainment, today announced that Sharp Corporation, a global smart TV and consumer electronics manufacturer, has agreed to renew a multi-year worldwide license for Adeia's media intellectual property (IP) portfolio. 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 25-plus year partnership with Sharp, which, for decades, has been a global leader in consumer electronics. Sharp is a global brand that has maintained a strong reputation as a leader in entertainment technology. The company is well known for its expertise in display technologies, offering a range of smart TVs and consumer electronics that deliver high-quality experiences to consumers worldwide," said Dr. Mark Kokes, Adeia's chief licensing officer and general manager, media.
About Adeia
Adeia is a leading R&D and technology licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries. Adeia’s fundamental innovations underpin technology solutions that are shaping and elevating the future of digital entertainment and electronics. Adeia’s IP portfolios power the connected devices that touch the lives of millions of people around the world every day as they live, work and play. For more, please visit www.adeia.com.
For Information Contact:
Investor Relations
Chris Chaney
IR@adeia.com
Media Relations
JoAnn Yamani
press@adeia.com
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