WILMINGTON, Del., July 31, 2018 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research
and development company, today announced that it has completed the acquisition of the patent licensing business of Technicolor
(Euronext Paris:TCH) (OTCQX:TCLRY), a worldwide technology leader in the media and entertainment sector.
The final transaction includes the acquisition by InterDigital of approximately 18,000 patents and applications, across a broad
range of technologies, including approximately 3,000 worldwide video coding patents and applications. The portfolio will also be
supplemented by jointly-funded R&D collaboration, which will bring together the efforts of hundreds of engineers in
InterDigital Labs and Technicolor Research and Innovation (R&I). Members of Technicolor’s licensing, legal and other support
teams in offices in Rennes and Issy-les-Moulineaux, France; Princeton, New Jersey, and other locations join InterDigital’s team of
more than 300 R&D and other staff in eleven locations around the world.
“During the months that have followed the initial announcement, we’ve had the opportunity to meet and appreciate the tremendous
capabilities of Technicolor’s team and gain additional insight into the strength of the portfolio, which strengthens our licensing
efforts in the mobile field while opening new markets for InterDigital,” said William J. Merritt, President and CEO of
InterDigital. “We’ve also been able to gauge the tremendous capabilities of Technicolor’s Research & Innovation team, and the
alignment between their research initiatives and our own in the video field.”
Under the terms of the agreement, InterDigital paid Technicolor $150 million in cash. There is no revenue sharing associated
with InterDigital’s licensing of the new portfolio in the mobile industry, but Technicolor receives 42.5% of all future cash
receipts (net of estimated operating expenses) from InterDigital’s new licensing efforts in the consumer electronics field. As part
of this transaction, InterDigital will also grant back to Technicolor a perpetual license for patents acquired in the
transaction.
About InterDigital®
InterDigital develops mobile 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 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.
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