InterDigital Nominates Samir Armaly to Board of Directors
InterDigital, Inc. (Nasdaq: IDCC) is set to nominate Samir Armaly for election to its Board of Directors during the annual shareholder meeting on June 7, 2023. Armaly, a seasoned tech executive, brings extensive experience in the video services sector and global IP licensing. Previously, he served as President of IP Licensing at Xperi and has advised on intellectual property matters for leading firms. His expertise is expected to enhance InterDigital's licensing programs and capitalize on the trending convergence of wireless and video technologies.
InterDigital focuses on mobile and video technologies, solving complex challenges in the field. The company aims to leverage Armaly's insights to drive innovation and growth.
- Nomination of Samir Armaly could bring fresh perspectives to the Board.
- Armaly's background in video services and IP licensing is expected to enhance InterDigital's licensing initiatives.
- Potential to capitalize on the growth of streaming video and connected devices.
- Concerns over continuity and experience gaps with new board member.
- Dependence on external factors affecting technology market and licensing agreements.
WILMINGTON, Del., April 20, 2023 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, today announced the nomination of Samir Armaly for election to the company’s Board of Directors at the company’s annual shareholder meeting scheduled for June 7, 2023.
Mr. Armaly is an experienced tech executive with a deep understanding of the video services sector and global IP licensing. From June 2020 to March 2022, Mr. Armaly was the President, IP Licensing of Xperi (now Adeia) Inc., a leading IP licensing business, and before that was a strategic advisor on intellectual property matters to the CEO and Board of Directors of Rovi and its successor TiVo Corporation. He graduated from the University of Missouri Columbia with a B.S. degree in mechanical engineering and received his J.D. degree from the University of California Berkeley.
“Samir combines a keen insight into key technology markets with excellent experience in global IP licensing,” said S. Doug Hutcheson, Chairman of the Board, InterDigital. “We believe his background in the implementation of video and other media technologies across a growing range of devices and services will be incredibly valuable in broadening InterDigital’s existing licensing programs and in helping to develop new opportunities.”
“As we continue to see the rise of streaming video, the convergence of wireless and video technologies, and the proliferation of connected devices, this is an incredibly exciting time for InterDigital,” said Samir Armaly. “If elected, I look forward to working with the Board and with the company’s leadership to help realize even more value from InterDigital’s foundational innovation.”
About InterDigital®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on Nasdaq. InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding our current beliefs, plans and expectations, including, without limitation, statements relating to our business activities; our strategy and plans; and the anticipated benefits from the potential election to the InterDigital Board of Directors of Mr. Armaly. Forward-looking statements may in some cases be identified by words such as “believe,” “anticipate,” “expect,” “intend,” and variations of any such words or similar expressions.
Forward-looking statements are made on the basis of management’s current views and assumptions and are not guarantees of future performance. Forward-looking statements are inherently subject to risks and uncertainties that could cause actual results, and actual events that occur, to differ materially from results contemplated by the forward-looking statements. These risks and uncertainties include, but are not limited to: (i) unanticipated delays, difficulties or accelerations in the execution of patent license agreements; (ii) our ability to leverage our strategic relationships and secure new patent license agreements on acceptable terms; (iii) our ability to enter into sales and/or licensing partnering arrangements for certain of our patent assets; (iv) our ability to enter into partnerships with leading inventors and research organizations and identify and acquire technology and patent portfolios that align with our roadmap; (v) our ability to commercialize our technologies and enter into customer agreements; (vi) the failure of the markets for our current or new technologies to materialize to the extent or at the rate that we expect; (vii) unexpected delays or difficulties related to the development of our technologies; (viii) changes in our interpretations of, and assumptions and calculations with respect to the impact on us of, the 2017 Tax Cuts and Jobs Act, as well as further guidance that may be issued regarding such act; (ix) risks related to the potential impact of new accounting standards on our financial position, results of operations or cash flows; (x) failure to accurately forecast the impact of our restructuring activities on our financial statements and our business; (xi) the resolution of current legal proceedings, including any awards or judgments relating to such proceedings, additional legal or regulatory proceedings, changes in the schedules or costs associated with legal proceedings or adverse rulings in such proceedings; (xii) the timing and impact of potential administrative and legislative matters; (xiii) changes or inaccuracies in market projections; (xiv) our ability to obtain liquidity though debt and equity financings; (xv) the potential effects that macroeconomic uncertainty could have on our financial position, results of operations and cash flows; (xvi) changes in our business strategy; (vii) changes or inaccuracies in our expectations with respect to royalty payments by our customers and (xviii) risks related to our assumptions and application of relevant accounting standards, including with respect to revenue being recognized under our binding arbitration agreement with Samsung. We undertake no duty to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority.
For more information regarding these risks and uncertainties as well as certain additional risks that we face, you should refer to the Risk Factors detailed in Item 1A of our 2022 Form 10-K.
InterDigital Contact:
Richard Lloyd
Email: richard.lloyd@interdigital.com
+1 (202) 349-1716
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