Immersion Corp. Shares Up 16% After Hours on Deals with Samsung, Sony
May 13 2019 - 5:45PM
Dow Jones News
By Stephen Nakrosis
Shares of Immersion Corp. (IMMR) are trading higher in
after-hours action on Monday, after the company settled litigation
with Samsung Electronics Co. and a struck a licensing agreement
with Sony Interactive.
At 4:59 p.m. ET, shares of the touch feedback technology company
were trading 15.62% higher at $10.66. They closed the day's regular
trading session with an 11.26% loss, finishing at $9.22.
Immersion said it entered a settlement and license agreement
with Samsung Electronics that resolved the global patent
infringement litigation brought by Immersion against Samsung. Terms
of the agreement are confidential, but Immersion said the overall
settlement and license fall in line with its "business model of
quarterly payments and revenue recognition."
Immersion also said Monday it signed an agreement with Sony
Interactive Entertainment to license Immersion's advanced haptics
patent portfolio.
The company also said it was raising its guidance, and now
expected 2019 revenue in a range between $36 million and $41
million.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 13, 2019 17:30 ET (21:30 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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