Immersion Partners with ELAN to Provide Haptic Touchpads

Rhea-AI Summary

Immersion Corporation (NASDAQ: IMMR) has signed a licensing agreement with ELAN Microelectronics to provide haptic technology licenses to PC laptop OEMs through ELAN’s Smart-Haptic Pad™ Technology. This partnership aims to enhance user experience by offering advanced haptic capabilities as part of Windows 11 integration. With ELAN's expertise in human-machine interfaces and Immersion’s innovations in haptics, the collaboration is expected to meet growing market demands for touch feedback technology. Financial results for the second quarter of 2022 will be reported on August 15, 2022.

Positive

• New licensing agreement with ELAN Microelectronics enhances market access for haptic technology.
• Integration into Windows 11 positions Immersion strategically within the PC laptop OEM market.

Negative

• None.

AVENTURA, Fla.--(BUSINESS WIRE)-- Immersion Corporation (NASDAQ: IMMR), a leading developer and provider of technologies for haptics, today announced that it has signed a license agreement with ELAN Microelectronics Corporation, a leading human-machine interface solution provider, to make Immersion haptic patent licenses available to PC laptop OEMs through ELAN’s best-in-class Smart-Haptic Pad™ Technology.

"With a haptics API now integrated into Windows 11, advanced haptics technology is critical for PC laptop OEMs to differentiate their devices by making them thinner and providing a more compelling user experience (UX),” said Francis Jose, CEO and General Counsel. “We are pleased to establish a partnership with ELAN,” added Mr. Jose. “As the adoption of haptics increases in PC touchpads, this partnership is an essential component of our strategy to meeting that demand, ensuring OEMs have easy access to our haptic technology and IP.”

“ELAN’s cooperation with Immersion on its touch feedback technology patents for our haptic solution looks to leverage Immersion’s strength and meet the emerging demands of customers worldwide. With ELAN’s solid foundation built upon the achievements and successes in human interfaces and Immersion’s pioneering innovator of haptics technology, we are confident our collaboration will bring the human interfaces technology to the next level,” said Joe Yeh, EVP at ELAN.

Second Quarter 2022 Results

Immersion will report financial results for the second quarter of 2022 on Monday, August 15, 2022, after market close.

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.

About ELAN

ELAN Microelectronics Corporation is the leader in integrated solution provider specializing in Human Interfaces, such as Display Touchscreen Controller with Pen Support, Touchpad Module, Pointing Stick and Biometrics Authentication.

Striving to achieve and deliver the highest level of innovation and quality, ELAN has successfully achieved a substantial growth and expansion since its inception in May 1994.

ELAN has reached US$655 billion revenue in 2021, building on its cutting-edge solution on Human Interfaces and Biometric Authentication. In the future, ELAN will continue its dedication in research and development to establish its leading-edge technology. ELAN is devoted to serve its worldwide customers and inspire the industry with continuous innovation and success.

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 the adoption of haptics increasing in PC touchpads.

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 the Company and its business, and on the business of its suppliers and customers; unanticipated changes in the markets in which the Company operates; 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 the Company’s products or third party products incorporating the Company’s technologies; the inability of Immersion to renew existing licensing arrangements, or enter into new licensing arrangements on favorable terms; the loss of a major customer; the ability of Immersion to protect and enforce its 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 Immersion’s Annual Report on Form 10-K for 2021 and in its 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 Immersion does 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/20220803005171/en/

Investor Contact:

Aaron Akerman

Immersion Corporation

514-987-9800 ext. 5110

aakerman@immersion.com

Source: Immersion Corporation

FAQ

What is the significance of Immersion's licensing agreement with ELAN Microelectronics?

The agreement enables Immersion to expand its haptic technology presence in the PC laptop OEM market, leveraging ELAN's established solutions.

When will Immersion report its financial results for the second quarter of 2022?

Immersion is set to report its financial results on August 15, 2022, after the market closes.

How does Immersion's partnership with ELAN impact its business strategy?

The partnership is key in meeting increased demand for advanced haptic technologies in user interfaces, which enhances Immersion's competitive positioning.

What technology is Immersion providing through its agreement with ELAN?

Immersion is providing haptic patent licenses to facilitate the development of haptic solutions for PC laptops.

What are the benefits of haptic technology for PC laptops?

Haptic technology improves user experience by delivering tactile feedback, making devices thinner and more engaging.