Adeia Renews Multi-Year IP License Agreement with SK Broadband
Rhea-AI Summary
Adeia Inc. (Nasdaq: ADEA) has renewed a multi-year intellectual property (IP) license agreement with SK Broadband, a leading IPTV provider in South Korea. The renewal grants SK Broadband access to Adeia's media portfolio, enabling the delivery of advanced entertainment solutions.
Dr. Mark Kokes, Adeia's chief licensing officer and general manager, media, emphasized that the partnership helps companies navigate the rapidly evolving entertainment landscape while delivering high-quality experiences. The agreement reinforces SK Broadband's commitment to providing world-class digital entertainment solutions to its South Korean customer base, leveraging Adeia's decades of research and development in transformative media technologies.
Positive
- Multi-year revenue stream secured through SK Broadband license renewal
- Strengthened market position in South Korean IPTV sector
- Continued monetization of media IP portfolio
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, ADEA declined 1.90%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN JOSE, Calif., Feb. 26, 2025 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the company whose innovations shape the way the world explores and experiences entertainment, today announced a multi-year renewal of its intellectual property (IP) license agreement with SK Broadband, a leading Internet Protocol Television (IPTV) provider of high-quality media and telecommunications services in South Korea, for access to Adeia’s media portfolio.
The renewed partnership underscores Adeia's dedication to empowering its customers to deliver groundbreaking entertainment solutions in a dynamic and competitive market. With this agreement, SK Broadband reaffirms its commitment to offering its users best-in-class entertainment services backed by cutting-edge technology from Adeia.
"The entertainment landscape is evolving rapidly, and companies must continuously adapt to stay ahead," said Dr. Mark Kokes, Adeia’s chief licensing officer and general manager, media. "Through strategic partnerships like this, we enable our customers to navigate this dynamic market with confidence, delivering high-quality entertainment experiences that consumers demand."
"SK Broadband continues to demonstrate its commitment to delivering world-class digital entertainment solutions to its South Korean customer base," said Kokes. "Adeia has invested decades in research and development to create transformative technologies for the media and entertainment industry. Its innovative solutions power advanced digital entertainment experiences, allowing partners across the globe to provide seamless, next-generation services that meet the needs of users."
About Adeia
Adeia is a leading technology 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.
For Information Contact:
Investor Relations:
Chris Chaney
IR@adeia.com
Media Relations:
JoAnn Yamani
press@adeia.com
FAQ
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