Immersion (IMMR) Reports Litigation Settlement, Including Patent and Technology License Agreement

Immersion Corporation (NASDAQ: IMMR) today announced that it agreed to enter into a settlement and license agreement with Samsung Electronics Co., Ltd., resolving the global patent infringement litigation brought by Immersion against Samsung.

“We are delighted to have resolved this litigation and to grant Samsung a license for our patents and advanced haptic technologies,” said Ramzi Haidamus, president and chief executive officer of Immersion. “We are excited to start a new chapter in our partnership with Samsung aimed at delivering high quality haptics in their mobile devices.”

While the terms of the agreement are confidential, the overall settlement and license fall in line with Immersion’s business model of quarterly payments and revenue recognition.

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