Sony and InterDigital Team to Launch Machine-to-Machine Focused Joint Venture Called Convida Wireless
InterDigital, Inc. (NASDAQ: IDCC) and Sony Corporation of America (NYSE:
SNE) today announced the launch of a joint venture to combine Sony’s
consumer electronics expertise with InterDigital’s pioneering wireless
machine-to-machine (M2M) and bandwidth management research. The joint
venture, called Convida Wireless, will focus on driving new research in
the growing field of M2M wireless communications and other connectivity
areas.
Convida Wireless represents a new collaboration between Sony, a longtime
technology leader, and InterDigital Solutions, a unit announced in
October by InterDigital that explores new engagement models with
industry players. Based on the terms of the agreement, the parties will
contribute funding and resources for additional M2M research and
platform development, which will be carried out by InterDigital
Solutions. Stephens Capital Partners LLC, the principal investing
affiliate of Stephens Inc., a full service investment banking firm
headquartered in Little Rock, Arkansas, will be a minority investor in
Convida Wireless. The agreement also includes a patent license from
InterDigital for Sony’s 3G and 4G products.
“Mobile is one of Sony’s core businesses, and this joint venture will
help us strengthen our foundation in this important area, focusing
specifically on machine-to-machine wireless technologies. Given the
pioneering efforts of InterDigital’s engineers in this growing field, we
can’t think of a better partner,” said Toshimoto Mitomo, Executive Vice
President of Entrepreneurship and Innovation, Sony Corporation of
America. “Moreover, in a market that is by its very nature
collaborative, we expect Convida Wireless to be a platform for
additional industry collaboration.”
InterDigital’s current M2M research includes an M2M services delivery
platform, standards leadership with the European Telecommunications
Standards Institute (ETSI), and other areas of research. Recently,
InterDigital technology powered a nine-vendor demonstration of
standards-based M2M technology at the 3rd ETSI TC M2M
Workshop in Mandelieu, France. InterDigital’s M2M technology has been
integrated into the trial platforms of various market participants,
including BUTLER, Intecs, Intel Corporation, Kontron, Mformation,
Radisys, Sensinode, and others.
“We’re honored to partner with Sony, a company that is synonymous with
so many advances in consumer technology, and to contribute our expertise
in core wireless research. InterDigital’s research efforts in M2M are
mature, and have from the start been focused on creating a
standards-based framework to benefit all companies in the wireless space
– operators, device makers and others. We believe that collaborating
with Sony through Convida Wireless will bring those efforts to the next
level,” said William J. Merritt, President and CEO of InterDigital.
About InterDigital®
InterDigital develops fundamental wireless technologies that are at the
core of mobile 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 and a richer
multimedia experience years ahead of market deployment. InterDigital has
licenses and strategic relationships with many of the world's leading
wireless companies. Founded in 1972, InterDigital is listed on NASDAQ
and is included in the S&P MidCap 400® index.
InterDigital is a registered trademark of InterDigital, Inc. For more
information, visit: www.interdigital.com.
About Sony Corporation of America
Sony Corporation of America, based in New York, NY, is the U.S.
subsidiary of Sony
Corporation, headquartered in Tokyo, Japan. Sony Corporation is a
leading manufacturer of audio, video, communications, and information
technology products for the consumer and professional markets. Its
motion picture, television, computer entertainment, music and online
businesses make Sony one of the most comprehensive entertainment and
technology companies in the world. Sony's principal U.S. businesses
include Sony Electronics Inc., Sony Computer Entertainment America LLC,
Sony Pictures Entertainment Inc., and Sony Music Entertainment. Sony
recorded consolidated annual sales of approximately $79 billion for the
fiscal year ended March 31, 2012, and it employs 162,700 people
worldwide.
About Stephens Capital Partners LLC
Stephens Capital Partners LLC is the principal investing affiliate of
Stephens Inc., a full service investment banking firm headquartered in
Little Rock, Arkansas, which maintains offices in Conway, Hot Springs
and Fayetteville, Arkansas and outside Arkansas in Atlanta, Austin,
Baton Rouge, Boston, Charlotte, Chicago, Columbia, Dallas, Houston,
Jackson, Memphis, Nashville, New Haven, New York City, Oklahoma City,
Richmond, St. Petersburg, Washington, D.C. and London. For more
information, please visit www.stephens.com
Forward-Looking Statements
This news release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. For
these purposes, forward-looking statements are statements concerning our
current beliefs, plans and expectations. Examples of these statements
include, but are not limited to, statements regarding the focus of the
joint venture, Sony’s expectation for the joint venture to be a platform
for additional industry collaboration and InterDigital’s belief about
the effect of the joint venture on InterDigital’s research efforts in
M2M. Actual results may differ materially from those indicated in
forward-looking statements as a result of various important factors,
including but not limited to the activities and success of the joint
venture. We undertake no duty to update publicly any forward-looking
statement, whether as a result of new information, future events or
otherwise, except as may be required by applicable law, regulation or
other competent legal authority.