InterDigital Completes Acquisition of Technicolor R&I Unit
June 04 2019 - 8:30AM
InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology
research and development company, today announced that it had
completed its acquisition of the Research & Innovation
(R&I) research and development organization of Technicolor
(Euronext Paris:TCH) (OTCQX:TCLRY), a worldwide technology leader
in the media and entertainment sector, on May 31, 2019. The
acquisition creates one of the largest long-term R&D and
licensing companies in the world, at the intersection of two of the
most impactful technology areas. Combined with the prior
acquisition of Technicolor’s valuable patent portfolio and
licensing teams, InterDigital is positioned to dramatically expand
its offerings and value proposition to a broad range of customers.
The acquisition brings InterDigital’s research team to
approximately 340 engineers in eight R&D offices worldwide, and
expands the company’s research capabilities beyond its core
wireless base into video, augmented reality, immersive content,
artificial intelligence and other key areas. Through its
relationship with Technicolor’s production services arm as a key
customer, InterDigital also gains a direct link to the end-market
in emerging technology areas.
“This is a pivotal moment in InterDigital’s history. This
acquisition creates one of the largest research teams in the world
focused on fundamental wireless and video technologies. We now have
an opportunity, through the combined research teams, to drive even
greater innovation into wireless and video standards, and
particularly exciting are the innovation opportunities at the
intersection of these two technical pillars. Both our existing
wireless customers and our new customers in consumer electronics
present rich opportunity for us to innovate and deliver solutions
to their greatest challenges, as well as those of the entire
industry,” said William J. Merritt, President and CEO of
InterDigital.
The company remains committed to its goal of expanding revenue
sources while maintaining expenses. “Through careful management of
our patent portfolio expenses, combined with the attractive
research expense climate in France, customer contribution, and our
ongoing elimination of non-core research expense, we are confident
that by the end of 2020 we can return our cost of operating
the business to 2017 levels, less the impact of inflation,” said
Richard J. Brezski, Chief Financial Officer.
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.
InterDigital
Contact:Patrick Van de WilleEmail:
patrick.vandewille@interdigital.com +1 (858) 210-4814 |
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