InterDigital Extends Term of Joint Venture and Renews Patent License Agreement with Sony Corporation of America
InterDigital (NASDAQ: IDCC) announced an extension of its partnership and patent license renewal with Sony Corporation of America on January 10, 2022.
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Rhea-AI Summary
InterDigital (NASDAQ: IDCC) announced an extension of its partnership and patent license renewal with Sony Corporation of America on January 10, 2022. This renewal underscores their collaboration, which has been active for eight years, particularly in advancing research in 5G and the Internet of Things (IoT) through their joint venture, Convida Wireless. The partnership aims to enhance wireless technology and connectivity, providing significant value to consumers and businesses globally.
Positive
- Renewed patent license with Sony Corporation, strengthening business relations.
- Extension of the Convida Wireless joint venture, enhancing research in 5G and IoT.
Negative
- None.
Details
News Market Reaction – IDCC
The recorded move for IDCC in the trading session of this news was +1.69%.
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WILMINGTON, Del., Jan. 10, 2022 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced an extension of its business partnership and renewal of its patent license with Sony Corporation of America.
As well as renewing Sony’s license to InterDigital’s patent portfolio, the companies agreed to extend the term of the Convida Wireless joint venture, which has helped them deepen their research in areas such as 5G and the Internet of Things (IoT).
“Over the last eight years Sony Corporation of America has been a great partner and licensee,” commented Eeva Hakoranta, Chief Licensing Officer, InterDigital. “We are particularly delighted with how the collaboration has allowed us to strengthen our deep portfolio of assets in wireless technologies, at a time when increased connectivity is delivering huge value to consumers and businesses worldwide.”
Convida Wireless was launched in 2013 as a JV to combine Sony's deep experience in consumer electronics with InterDigital's pioneering IoT expertise to drive new research in IoT communications and other areas of connectivity.
About InterDigital®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ.
InterDigital is a registered trademark of InterDigital, Inc.
InterDigital Contact:
Richard Lloyd
Richard.lloyd@interdigital.com
+1 202 349 1716
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