Immersion Signs Agreement to Make Haptic Technology License Available To Mobile OEMs Through TITAN Haptics

Rhea-AI Summary

Immersion Corporation (NASDAQ: IMMR) has signed a license agreement with TITAN Haptics, allowing mobile phone and wearable OEMs that use TITAN's Linear Magnetic Ram (LMR) actuators access to Immersion's haptic patents. This partnership aims to enhance haptic feedback technology in mobile devices and expand Immersion's reach in China and global markets. LMR technology is praised for its compact design and ability to deliver diverse haptic experiences, including realistic button clicks, thus facilitating the development of virtual buttons without compromising tactile feel.

Positive

• Partnership with TITAN Haptics facilitates access to Immersion's haptic patent portfolio for OEMs.
• Linear Magnetic Ram technology offers advanced haptic feedback capabilities, enhancing user experience.
• Agreement expands Immersion's market presence in China and other global markets.

Negative

• None.

Immersion Corporation (NASDAQ: IMMR), the leading developer of haptic technologies, today announced that the company has signed a license agreement with TITAN Haptics to make Immersion haptic patent licenses available to mobile phone and wearable OEMs that incorporate TITAN’s actuators.

TITAN Haptics, based in Canada, has developed a groundbreaking new actuator technology called Linear Magnetic Ram (LMR) that offers new experiences and capabilities in a variety of markets. TITAN Haptics’ LMR motors uniquely provide powerful, wideband haptic feedback in a compact form factor with only one internal moving part. LMR motors are ideal for generating diverse haptic feelings in games, music, and other multimedia applications. They can also generate realistic button clicks using impact haptics on the sides of smartphones, allowing OEMs to implement reprogrammable virtual buttons without compromising tactile feel.

Under the agreement, mobile phone and wearable OEMs that acquire certain TITAN Haptics’ actuators will have access to Immersion’s haptic patent portfolio. This agreement expands the footprint of Immersion’s component partners offering a channel license serving China and other global markets.

“We’re excited to partner with Immersion to provide seamless access of its world leading haptics patent portfolio to our actuator customers,” said Tim Szeto, CEO, TITAN Haptics. “This agreement builds on our existing collaboration with Immersion to develop industry standards and scale the adoption of advanced haptics in mobile devices.”

“The Linear Magnetic Ram technology developed by TITAN represents a new paradigm in high-definition haptic feedback and we look forward to supporting TITAN’s successful application of this technology to mobile devices,” said Chris Ulrich, CTO, Immersion. “We’re pleased to be partnering with TITAN Haptics to make it easier for mobile phone OEMs, especially those in China, to gain access to our innovative haptic patent portfolio.”

About Immersion

Immersion Corporation (NASDAQ: IMMR) is the 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 TITAN Haptics Inc.

TITAN Haptics develops advanced haptic motors for smartphones, consoles and touchscreen devices. Learn more at www.TITANhaptics.com.

Forward-looking Statements

This press release contains "forward-looking statements" that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of Immersion Corporation and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements.

All statements, other than the statements of historical fact, are statements that may be deemed forward-looking statements.

Immersion's actual results might differ materially from those stated or implied by such forward-looking statements due to risks and uncertainties associated with Immersion's business.

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 most current Form 10-K, and Form 10-Q, both of which are on file with the U.S. Securities and Exchange Commission. The forward-looking statements in this press release reflect Immersion's beliefs and predictions as of the date of this release. Immersion disclaims any obligation to update these forward-looking statements as a result of financial, business, or any other developments occurring after the date of this release.

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.

(IMMR – C)

View source version on businesswire.com: https://www.businesswire.com/news/home/20210812005730/en/

FAQ

What is the recent partnership between Immersion and TITAN Haptics about?

Immersion Corporation has partnered with TITAN Haptics to allow OEMs using TITAN's actuators to access Immersion's haptic patent portfolio.

What technology does TITAN Haptics provide to Immersion?

TITAN Haptics offers the Linear Magnetic Ram (LMR) technology, which enhances haptic feedback in mobile devices.

How does the partnership affect Immersion's market strategy?

The partnership is expected to expand Immersion's presence in China and other global markets by providing access to advanced haptic solutions.

What benefits does the LMR technology offer for mobile devices?

LMR technology enables powerful haptic feedback, realistic button clicks, and the implementation of virtual buttons without compromising tactile sensation.