Adeia Renews Multi-Year IP License Agreement with SONIFI to Serve the Hospitality Industry’s Need for Next-Generation Digital Entertainment Services

Rhea-AI Summary

Adeia Inc. (Nasdaq: ADEA) has renewed its multi-year licensing agreement with SONIFI Solutions, enhancing its media IP portfolio for the hospitality sector. This partnership aims to improve digital experiences for hotel guests, allowing them access to personalized media services. With over 30 years of service in hospitality, SONIFI addresses the evolving demands of travelers, especially post-pandemic. Adeia's innovative technologies are fundamental to modern entertainment experiences, fostering customer engagement and driving the growth of digital solutions in the hospitality industry.

Positive

• Renewed multi-year agreement with SONIFI Solutions enhances Adeia's media IP licensing.
• Strengthens Adeia's presence in the hospitality sector amidst evolving digital entertainment demands.
• SONIFI's experience in hospitality supports Adeia's goal of delivering personalized media experiences.

Negative

• None.

SAN JOSE, Calif., Dec. 13, 2022 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) (“Adeia” or the “Company”), the company whose innovations shape the way the world explores and experiences entertainment, today announced that it has renewed a multi-year agreement with SONIFI Solutions, Inc., a leading technology services provider for the hospitality industry, to license Adeia's media intellectual property (IP) portfolio.

SONIFI has served the hospitality industry for over 30 years, offering technology solutions that enhance the engagement, entertainment and digital experience of hotel and resort guests. The rapid transformation of the digital entertainment landscape has altered how video, entertainment, and connectivity services are delivered to leisure and business travelers. SONIFI’s solutions offer property managers, owners, and guests next-generation applications and services to meet constantly changing consumer desires for entertainment and digital services when they are away from home.

"SONIFI is addressing the evolving needs of the hospitality industry as the world emerges from travel restrictions imposed by a global pandemic that had constrained business and leisure travel. We are excited about the relationship Adeia is building with one of the leading technology providers to a sector that is of critical importance to the global economy," said Dr. Mark Kokes, Adeia's chief licensing officer and general manager, media. "Our license agreement with SONIFI further confirms the value and longevity of Adeia's media IP portfolio for organizations serving the traveling public's needs and we are excited to both expand and extend our relationship with them."

When traveling, consumers today expect the same high-quality content and entertainment services they experience in their home environments. Hotels, luxury resorts and other segments of the hospitality sector are consequently under increasing pressure to provide intuitive and seamless video and connectivity services for consumers on the go.

"Industry leaders are leveraging innovations that improve digital entertainment experiences by making it possible for consumers to quickly, easily and intuitively find the content and services they want to enjoy. The IP included in Adeia's media portfolio allows hospitality service providers to deliver guests truly personalized media experiences," Dr. Kokes said.

Adeia has spent decades investing in research and development to create market-leading technologies for the media and entertainment industry. Adeia's innovative solutions touch practically every aspect of consumers' day-to-day interaction with their entertainment, enabling Adeia's customers to build customized, next-generation digital entertainment solutions for users around the globe.

About Adeia
Adeia invents, develops and licenses fundamental innovations that shape the way millions of people explore and experience entertainment in an increasingly connected world. From TVs to smartphones, and across all types of entertainment experiences, Adeia’s technologies allow users to manage content and connections in a way that is smart, immersive and personal. For more information, please visit adeia.com.

About SONIFI^® Solutions, Inc.
SONIFI Solutions is a technology and service platform for the smart enterprise. Serving 5,000+ customers across hospitality, healthcare and commercial sectors worldwide, SONIFI simplifies complex technology projects at scale with unparalleled service and support. Learn more at sonifi.com.

For Information Contact:

Investor Relations
Idalia Rodriguez and Jill Koval
Arbor Advisory Group
IR@adeia.com

Marketing
Stephanie Stocker
Conveyor Marketing
stephanie@conveyormarketing.com

FAQ

What is the significance of Adeia's agreement with SONIFI Solutions?

The agreement allows Adeia to enhance its media IP portfolio, improving digital experiences in hospitality.

How does Adeia's partnership with SONIFI impact the hospitality industry?

It provides hotels with advanced technology solutions to meet the changing digital service demands of travelers.

What is the duration of the licensing agreement between Adeia and SONIFI?

The agreement is a multi-year renewal.

What does Adeia's media IP portfolio entail?

It includes technologies that enhance consumer engagement and entertainment experiences in hospitality.

What challenges does the hospitality industry face that Adeia addresses?

The industry is under pressure to deliver high-quality, seamless entertainment and connectivity services for guests.