Business
Adeia Renews IP License Agreement with Enseo to Enable Innovative Digital Entertainment Services for the Hospitality Industry
SAN JOSE, Calif., July 11, 2023 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the company whose innovations shape the way the world explores and experiences
About this update from Adeia Inc.
[{"type":"text","content":"SAN JOSE, Calif., July 11, 2023 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the company whose innovations shape the way the world explores and experiences entertainment, today announced that it has renewed its agreement with Enseo, LLC, a leading technology services provider for the hospitality industry, to license Adeia's media intellectual property (IP) portfolio. Enseo provides technology solutions that improve the in-room digital entertainment experience of hotel and resort guests. The company offers property managers, owners and guests next-generation software, middleware and hardware solutions to meet the evolving consumer desires for entertainment and digital services when they are away from home. The confluence of pay-TV and streaming services is quickly reshaping the digital entertainment landscape and transforming how video, entertainment and connectivity services are delivered to guests. \"Enseo is addressing the evolving needs of hotels and resorts to deliver best in class in-room digital entertainment experiences to guests,\" said Dr. Mark Kokes, Adeia's chief licensing officer and general manager, media. \"The video consumption needs of today’s travelers have evolved significantly. This agreement further validates Adeia's market-leading technology as an enabler of digital entertainment experiences, which offers competitive differentiation in the hospitality industry. We look forward to continuing to deepen and extend our relationship with Enseo.\" Consumers today expect the same high-quality content and entertainment experiences that they have at home when they travel. Hospitality industry analysts suggest that approximately 75% of guests want access to robust linear and streaming services, and are willing to pay a premium to stay in properties that offer these capabilities. As a result, industry executives are under increasing pressure to provide intuitive and seamless video services. “Hotel and resort operators are paying greater attention to the personalization of guest services, which includes providing entertainment and digital experiences. Adeia’s media IP portfolio underpins the technologies that support Enseo in creating a tailored in-room entertainment experience for guests,” said Dr. Kokes. Adeia has spent decades investing in research and development to create market-leading technologies for the media...