Business
Adeia Enters into IP License Agreement with Magenta Telekom
SAN JOSE, Calif., April 18, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) ("Adeia" or the "Company"), the company whose patented innovations shape the
About this update from Adeia Inc.
[{"type":"text","content":"SAN JOSE, Calif., April 18, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) (\"Adeia\" or the \"Company\"), the company whose patented innovations shape the way the world explores and experiences entertainment, today announced Magenta Telekom, a leading provider of Internet, mobile communications, entertainment and business solutions, has entered into an agreement to license Adeia’s media intellectual property (IP) portfolio. According to analysts at Statista1, the vast majority of Austrian consumers (86%) report accessing digital video content. Magenta Telekom has played an important role in bringing next-generation digital communications and video entertainment services to its customers. “The agreement covers certain Magenta Telekom video and pay-TV services in its network service provider operations,” said Dr. Mark Kokes, Adeia's chief licensing officer and general manager, media. “This demonstrates the growing significance of Adeia’s media IP portfolio in the European video services market. It is a position that we intend to expand by investing in innovations that enhance the customer experience. This includes next- generation discovery, search and targeted advertising technologies, among other initiatives.” 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. About Magenta Telekom Magenta Telekom is a leading provider of Internet, mobile communications, entertainment and business solutions in Austria. The company has around 2,200 employees and generated sales of around 1.39 billion euros in 2022. The company offers ultra-fast broadband via fiber optic coaxial cable and mobile communications, entertainment and the latest technologies for digital life and work. Safe Harbor Statement This press release contains \"forward-looking statements\" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 2...