Adeia signs IP license deal with Altice USA, settles litigation

Adeia Inc. (NASDAQ: ADEA) announced it has signed a long-term intellectual property license agreement with Altice USA, which operates as Optimum broadband and video services. The agreement covers Optimum's internet services, cable television and over-the-top streaming platforms.

The licensing deal also resolves all outstanding litigation between the two companies, according to the press release statement.

Under the agreement, Optimum gains access to Adeia's patent portfolio covering content discovery, search and personalization technologies. The license enables features such as content recommendations, voice search and personalized viewing experiences for Optimum's services.

"This agreement highlights the ongoing value of our IP portfolio in enabling personalized and seamless media experiences for consumers across the country," said Dr. Mark Kokes, Adeia's chief licensing officer for media.

Altice USA (NYSE: ATUS) serves approximately 4.5 million residential and business customers across 21 states through its Optimum brand. The company provides broadband, video, mobile and advertising services.

Adeia operates as a research and development company that licenses intellectual property in the media and semiconductor industries. The San Jose, California-based company's patents are used in connected devices and digital entertainment technologies.

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