Immersion Expands License Agreement with Nippon Seiki for Automotive Interfaces

Rhea-AI Summary

Immersion Corporation (NASDAQ: IMMR) has renewed and expanded its multi-year licensing agreement with Nippon Seiki Co., Ltd. This partnership allows Nippon Seiki to utilize Immersion's haptic technology for both its printer/copier products and automotive applications. The growing trend of integrating haptic technology in vehicles enhances user interaction with infotainment and climate control systems. Immersion's financial results for Q3 2022 will be reported on November 14, 2022.

Positive

• Renewed multi-year license with Nippon Seiki signifies strong partnership.
• Expansion of the license to include automotive products opens new market opportunities.

Negative

• None.

Immersion renews Nippon Seiki to multi-year license

AVENTURA, Fla.--(BUSINESS WIRE)-- Immersion Corporation (NASDAQ: IMMR), a leading developer and provider of technologies for haptics, today announced that it renewed a multi-year license to Immersion’s technology with Nippon Seiki Co., Ltd., a global supplier of control panels for home, office and factory appliances, for use in Nippon Seiki’s line of printer and copier products, and has expanded its license with Immersion to cover Nippon Seiki’s automotive products.

“We are increasingly seeing more new car models adopting haptics across various interfaces throughout the cabin,” said Nobumitsu Shimada, Representative Director, Japan and VP, APAC, Immersion. “We are pleased that Nippon Seiki has renewed its license with us and expanded its license of our patented technology to the automotive market. We are proud to count Nippon Seiki among our licensees in the automotive market.”

Immersion’s high-quality touch feedback technology enhances in-vehicle interfaces and applications. Increasingly, haptics is being designed into automotive applications as more and more vehicles incorporate high-quality tactile effects for operations such as infotainment, navigation and climate control.

Third Quarter 2022 Results

Immersion will report financial results for the third quarter of 2022 on Monday, November 14, 2022.

About Immersion

Immersion Corporation (NASDAQ: IMMR) is a leading innovator of touch feedback technology, also known as haptics. The company invents, accelerates, and scales haptic experiences by providing technology solutions for mobile, automotive, gaming, and consumer electronics. Haptic technology creates immersive and realistic experiences that enhance digital interactions by engaging users' sense of touch. Learn more at www.immersion.com.

Forward-looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements involve risks and uncertainties. Forward-looking statements are identified by words such as “anticipates,” “believes,” “expects,” “intends,” “may,” “can,” “will,” “places,” “estimates,” and other similar expressions. However, these words are not the only way we identify forward-looking statements. Examples of forward-looking statements include any expectations, projections, or other characterizations of future events, or circumstances, and include statements regarding us increasingly seeing more new car models adopting haptics across various interfaces throughout the cabin.

Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results could differ materially from those projected in the forward-looking statements, therefore we caution you not to place undue reliance on these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the inability to predict the outcome of any litigation, the costs associated with any litigation and the risks related to our business, both direct and indirect, of initiating litigation, the effects of the COVID-19 global pandemic on us and our business, and on the business of our suppliers and customers; unanticipated changes in the markets in we operate; the effects of the current macroeconomic climate (especially in light of the ongoing adverse effects of the COVID-19 global pandemic); delay in or failure to achieve adoption of or commercial demand for our products or third party products incorporating our technologies; the inability of us to renew existing licensing arrangements, or enter into new licensing arrangements on favorable terms; the loss of a major customer; the ability us to protect and enforce our intellectual property rights and other factors. For a more detailed discussion of these factors, and other factors that could cause actual results to vary materially, interested parties should review the risk factors listed in our Annual Report on Form 10-K for 2021 and in our most recent Quarterly Report on Form 10-Q which are on file with the U.S. Securities and Exchange Commission. Any forward-looking statements made by us in this press release speak only as of the date of this press release, and we do not intend to update these forward-looking statements after the date of this press release, except as required by law.

Immersion, and the Immersion logo are trademarks of Immersion Corporation in the United States and other countries. All other trademarks are the property of their respective owners. The use of the word “partner” or “partnership” in this press release does not mean a legal partner or legal partnership.

(IMMR – C)

View source version on businesswire.com: https://www.businesswire.com/news/home/20221103005206/en/

Investor Contact:

Aaron Akerman

Immersion Corporation

514-987-9800 ext. 5110

aakerman@immersion.com

Source: Immersion Corporation

FAQ

What are the details of Immersion's renewed license with Nippon Seiki?

Immersion has renewed and expanded a multi-year licensing agreement with Nippon Seiki, covering both printer/copier products and automotive applications.

When will Immersion report its financial results for Q3 2022?

Immersion is scheduled to report its financial results for the third quarter of 2022 on November 14, 2022.

How does Immersion's technology impact the automotive industry?

Immersion's haptic technology enhances in-vehicle interfaces, improving user interaction with infotainment and climate control systems.