Adeia Renews Long-Term IP License Agreement with Liberty Global
SAN JOSE, Calif., July 08, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (NASDAQ:ADEA) ("Adeia" or "Company"), the company whose patented innovations shape the way the world explores and experiences entertainment, today announced Liberty Global (NASDAQ:LBTYA, LBTYB and LBTYK))), a global leader in converged broadband, video and mobile communications, has agreed to a long-term renewal agreement for Adeia's media intellectual property (IP) portfolio.
Liberty Global has played a critical role in bringing advanced digital communications and entertainment services to its customers. According to Statista, the operator remains the pay-TV subscriber leader in Europe, with 18 million customers projected in the region for 2023.
"The agreement covers the network service provider operations offered by Liberty Global through its various brands -- including its mobile, broadband and pay-TV services. This renewal reflects the importance of Adeia's media IP portfolio in the European video services market. It is a position that we intend to expand by continuously advancing innovations that enhance the customer experience through next-generation discovery, search and targeted advertising technologies, among other initiatives," said Dr. Mark Kokes, Adeia's chief licensing officer and general manager, media.
Adeia's media IP portfolio offers pay-TV providers the opportunity to deliver truly personalized media experiences through enhanced content discovery, search and recommendation capabilities, among many others.
"Innovation is pivotal to making our entertainment solutions even more powerful and engaging as new generations of digital-first customers continue to demand best in class entertainment. We are pleased to renew our IP license agreement with Adeia and leverage the expanding scope of their media IP portfolio to provide our subscribers with the most compelling experiences," said Adrian Drury, Liberty Global's Managing Director, Platform Technology.
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 Liberty Global
Liberty Global (NASDAQ:LBTYA, LBTYB and LBTYK))) is a world leader in converged broadband, video and mobile communications services. We deliver next-generation products through advanced fiber and 5G networks, and currently provide over 85 million connections* across Europe and the United Kingdom. Our businesses operate under some of the best-known consumer brands, including Virgin Media-O2 in the U.K., VodafoneZiggo in The Netherlands, Telenet in Belgium, Sunrise in Switzerland, Virgin Media in Ireland and UPC in Slovakia. Through our substantial scale and commitment to innovation, we are building Tomorrow's Connections Today, investing in the infrastructure and platforms that empower our customers to make the most of the digital revolution, while deploying the advanced technologies that nations and economies need to thrive.
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 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on information available to the Company as of the date hereof, as well as the Company's current expectations, assumptions, estimates and projections that involve risks and uncertainties. In this context, forward-looking statements often address expected future business, financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "could," "seek," "see," "will," "may," "would," "might," "potentially," "estimate," "continue," "expect," "target," similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond the Company's control, and are not guarantees of future results. These and other forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: the Company's ability to implement its business strategy; the Company's ability to enter into new and renewal license agreements with customers on favorable terms; the Company's ability to retain and hire key personnel; uncertainty as to the long-term value of the Company's common stock; legislative, regulatory and economic developments affecting the Company's business; general economic and market developments and conditions; the Company's ability to grow and expand its patent portfolios; changes in technology and development of competing technology in the industries in which in which the Company operates; the evolving legal, regulatory and tax regimes under which the Company operates; unforeseen liabilities and expenses; risks associated with the Company's indebtedness; the Company's ability to achieve the intended benefits of, and its ability to recognize the anticipated tax treatment of, the recent spin-off of its product business; unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, including Russia's invasion of Ukraine, and natural disasters; and the extent to which the COVID-19 pandemic continues to have an adverse impact on the Company's business, results of operations, and financial condition will depend on future developments, including measures taken in response to the pandemic, which are highly uncertain and cannot be predicted. These risks, as well as other risks associated with the business, are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission ("SEC"), including the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. While the list of factors presented here is, and the list of factors presented in the Company's filings with the SEC are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on the Company's consolidated financial condition, results of operations, liquidity or trading price of common stock. The Company does not assume any obligation to publicly provide revisions or updates to any forward- looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
For Information Contact:
Investor Relations
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Media Relations
JoAnn Yamani
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