InterDigital and LG Electronics, Inc. Sign Multi-Year Patent License Agreement

Agreement resolves outstanding litigation between the companies

Company Release - 12/4/2017 8:30 AM ET

WILMINGTON, Del., Dec. 04, 2017 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a wireless research and development company, today announced that the company’s patent licensing subsidiaries have signed a multi-year, worldwide, non-exclusive patent license with LG Electronics, Inc. (“LG”), a global leader and technology innovator in consumer electronics, mobile communications and home appliances. The deal also commits the parties to explore cooperation for projects related to the research and development of video and sensor technology for connected and autonomous vehicles.

The agreement covers the 3G, 4G and 5G terminal unit products of LG and its affiliates and sets forth a royalty of cash payments to InterDigital as well as a process for the transfer of patents from LG to InterDigital. The parties have also agreed to terms for dismissal by InterDigital of the outstanding litigation among the parties and their affiliates.

“We are very happy to have resolved our licensing dispute with LG on mutually agreeable terms and look forward to a successful relationship with LG going forward.  This agreement with LG shows how our longstanding patent licensing framework and process can lead to effective, productive discussions and eventual resolution on a worldwide basis,” said William J. Merritt, President and Chief Executive Officer of InterDigital. “The agreement also underscores the broad portfolio of technologies we’ve contributed and continue to contribute to the entire industry, and represents another important step towards our efforts to bring a significant portion of major terminal unit providers under license.”

About InterDigital®

InterDigital develops 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.

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Source: InterDigital, Inc.