InterDigital and Huawei Sign Multi-Year Patent License Agreement for 3G and 4G Terminal Units
Arbitration Matter and Related Proceedings Settled
Company Release - 9/6/2016 8:30 AM ET
WILMINGTON, Del., Sept. 06, 2016 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research and development company, today announced that, together with its patent holding subsidiaries, it has signed a multi-year, worldwide, non-exclusive, royalty bearing patent license agreement with Huawei Investment & Holding Co., Ltd. ("Huawei”), one of the world’s largest holders of intellectual property rights in the information and communications technology industry.
The agreement covers Huawei’s and its affiliates’ sales of their 3G and 4G terminal unit products and sets forth cash payments to InterDigital and a process for transfer of patents from Huawei to InterDigital. In addition, the companies have agreed to a framework for discussions regarding joint research and development efforts. The companies have settled all proceedings related to the arbitration initiated in December 2013.
“We're pleased to conclude an agreement with Huawei that reflects the strength of InterDigital's research and contributions to global wireless standards and Huawei's success in the global wireless device market,” said William J. Merritt, Chief Executive Officer of InterDigital, Inc. “We look forward to the opportunity to broaden our relationship through possible collaboration in advanced technologies areas. ”
