Yahoo Finance Adeia Renews IP License Agreement with TVStorm
SAN JOSE, Calif., May 10, 2023 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the company whose patented innovations shape the way the world explores and experiences entertainment, today announced that TVStorm, Inc., a leading provider of set-top box middleware, renewed its license agreement for Adeia's media intellectual property (IP) portfolio, which supports TVStorm’s customers in the pay-TV market in Korea.
This multi-year renewal provides TVStorm with continued access to IP that underpins the company’s ability to enhance its content, search and recommendation services, as well as electronic programming guide functionality for Korean pay-TV providers.
“The rapidly evolving video entertainment landscape requires a personalized media experience upheld by next-generation solutions that deliver recommendation carousels and search results tuned to individual viewers’ needs and desires. Adeia’s innovative IP enables multiple technologies to work together in enhancing this tailored customer experience,” said Dr. Mark Kokes, Adeia’s chief licensing officer and general manager of media.
This renewal illustrates the long-standing partnership between Adeia and TVStorm. It is also the latest example of Adeia’s strong presence in the dynamic Korean market.
“This partnership supports TVStorm’s ongoing efforts to meet the demands of sophisticated pay-TV subscribers in the highly competitive Korean market,” said Kokes.
Adeia has spent decades investing in advanced research and development to create market-leading technologies for the media and entertainment industry. Adeia's innovative solutions touch practically every aspect of consumers' day-to-day interaction with their entertainment, enabling Adeia's customers to build customized, next-generation digital entertainment solutions for users around the globe.
About Adeia
Adeia is a leading R&D and intellectual property (IP) licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries. Adeia’s fundamental innovations underpin technology solutions that are shaping and elevating the future of digital entertainment and electronics. Adeia’s IP portfolios power the connected devices that touch the lives of millions of people around the world every day as they live, work and play. For more, please visit www.adeia.com.
For Information Contact:
Investor Relations
Chris Chaney
IR@adeia.com
Media Relations
Stephanie Stocker
Conveyor Marketing
marketing@adeia.com
