Adeia Enters into Multi-Year IP License Renewal with LG U+

Rhea-AI Summary

Adeia (Nasdaq: ADEA) has renewed its intellectual property (IP) license agreement with LG U+, a major South Korean IPTV service provider. The multi-year renewal extends LG U+'s access to Adeia's media portfolio for its products and services.

The renewal strengthens Adeia's position in South Korea's digital entertainment market, with Dr. Mark Kokes, Adeia's chief licensing officer, highlighting the significance of LG U+'s presence in the country's expanding digital entertainment landscape. The agreement reinforces Adeia's role as a key enabler of innovative media technologies in one of the world's most advanced entertainment markets.

Positive

• Secured multi-year IP license renewal with major South Korean IPTV provider
• Maintains revenue stream from LG U+ licensing agreement
• Strengthens market position in South Korea's entertainment sector

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• None.

SAN JOSE, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the technology company whose patented innovations enhance billions of devices and shape the way the world explores and experiences entertainment, today announced it has renewed its intellectual property (IP) license agreement with LG U+, one of South Korea's leading IPTV service providers. The multi-year license renewal extends LG U+'s access to Adeia's media portfolio for its products and services.

"LG U+ represents a significant presence in South Korea's robust and expanding digital entertainment landscape," said Dr. Mark Kokes, Adeia's chief licensing officer and general manager, media. "This renewal underscores the continued importance and relevance of our media portfolio in the dynamic IPTV market."

The renewed agreement highlights the ongoing partnership between Adeia and LG U+, further solidifying Adeia's role as a critical enabler of innovative media technologies in one of the world's most advanced entertainment markets.

About Adeia
Adeia is a leading technology 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

FAQ

What is the significance of Adeia's IP license renewal with LG U+ in 2025?

The renewal extends LG U+'s access to Adeia's media portfolio for its products and services, maintaining Adeia's presence in South Korea's digital entertainment market and securing a continued revenue stream.

How will the LG U+ license renewal impact ADEA's market position in South Korea?

The renewal strengthens Adeia's role as a key enabler of innovative media technologies in South Korea's entertainment market, one of the world's most advanced markets.

What products and services are covered under the ADEA-LG U+ license agreement?

The agreement covers LG U+'s access to Adeia's media portfolio for its IPTV products and services.

When does Adeia's new license agreement with LG U+ take effect?

The multi-year license renewal was announced on February 13, 2025, though specific terms and duration were not disclosed.