Adeia Enters into Multi-Year IP License Agreement with X Corp.
Adeia has entered into a multi-year intellectual property (IP) license agreement with X Corp, the owner of the social media platform formerly known as Twitter.
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Rhea-AI Summary
Adeia has entered into a multi-year intellectual property (IP) license agreement with X Corp, the owner of the social media platform formerly known as Twitter. Announced on July 1, 2024, this agreement resolves all existing litigation between the two companies. Kevin Tanji, Adeia's chief legal officer, highlighted that this agreement enhances their IP licensing business. Adeia's proprietary innovations are pivotal in advancing digital experiences for both consumer and enterprise applications, shaping the way millions engage with entertainment and enhancing billions of devices globally.
Positive
- Multi-year IP license agreement with X Corp.
- Resolution of all outstanding litigation with X Corp.
- Strengthening Adeia's established IP licensing business.
Negative
- None.
Details
News Market Reaction – ADEA
The recorded move for ADEA in the trading session of this news was -0.27%.
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SAN JOSE, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the company whose patented innovations enhance billions of devices and shape the way the world explores and experiences entertainment, has entered into a multi-year license agreement with X Corp., the owner of the social media platform formerly known as Twitter. The agreement also resolves all of the outstanding litigation between the companies.
“We are pleased to enter into this agreement and resolve the outstanding litigation with X Corp., a leading technology company and social networking platform, furthering our well-established intellectual property licensing business," said Kevin Tanji, chief legal officer at Adeia.
Adeia’s fundamental innovations power their customers’ next-generation products, delivering breakthroughs in digital experiences for consumer and enterprise applications. The company’s IP shapes the way millions of people explore and experience entertainment and enhances billions of devices in an increasingly connected world.
About Adeia
Adeia is a leading R&D and intellectual property (IP) 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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