Xperi and Comcast agree patent licensing dealMonday, November 9th, 2020
Xperi and Comcast Enter Into Long-Term Patent License Agreement
- Agreement Reinforces the Long-Term Relevance and Value of the Media IP Licensing Business
SAN JOSE, Calif. & PHILADELPHIA — TiVo®, a wholly owned subsidiary of Xperi Holding Corporation (NASDAQ: XPER) (“Xperi”), and Comcast Corporation (NASDAQ: CMCSA) today announced that they have entered into a 15-year patent license agreement. The agreement is effective as of the expiration of Comcast’s prior agreement in 2016, providing broad coverage under TiVo’s patent portfolios into 2031. The agreement also resolves all of the outstanding litigation between the companies.
The terms of the agreement are consistent with TiVo’s well-established licensing program for the Pay-TV market. The agreement provides for an initial payment upon execution and ongoing payments through the remainder of the agreement.
“We are very pleased to conclude this agreement with Comcast, one of the world’s leading media and technology companies that is widely recognized for its innovative products and solutions,” said Samir Armaly, president, IP licensing of Xperi. “The agreement illustrates our ability to execute key renewals with our largest customers as the video market continues to experience significant technological and business evolution.”
“This deal provides us with a reasonable licensing solution for the company’s comprehensive patent portfolio while putting the litigation behind us,” said Peter Kiriacoulacos, EVP and chief procurement officer of Comcast. “We’re looking forward to a mutually successful relationship in the years to come as we continue to bring our customers the best entertainment experiences.”
TiVo has spent decades investing in research and development to create market-leading technologies broadly licensing them to the media and entertainment industry. TiVo’s innovations make it easier for viewers to find, watch, and enjoy all their content across a multitude of platforms.