Immersion Signs Agreement to Make Haptic Technology Licenses Available Through Vishay Intertechnology

Rhea-AI Summary

Immersion Corporation (NASDAQ: IMMR) has signed a license agreement with Vishay Intertechnology, Inc. (NYSE: VSH) to bundle haptic patent licenses for Vishay's solenoid-based haptic actuators. This partnership aims to simplify the design-in process, allowing OEMs easy access to Immersion's haptic technology without separate licensing agreements. Both companies expect this collaboration to enhance customer experience and promote the adoption of near HD quality haptic technology across various applications.

Positive

• Licensing agreement streamlines access to haptic technology for customers.
• Collaboration may enhance market competitiveness for both companies.

Negative

• None.

AVENTURA, Fla.--(BUSINESS WIRE)-- Immersion Corporation (NASDAQ: IMMR), a leading developer and provider of technologies for haptics, today announced it has signed a license agreement with Vishay Intertechnology, Inc. (NYSE: VSH)(“Vishay”) to bundle Immersion haptic patent licenses for purchasers of Vishay’s solenoid-based haptic actuators, streamlining the design-in process for Vishay’s game-changing technology.

“We are very pleased to establish a partnership with Vishay,” said Eric Singer, Immersion’s President and CEO. “We look forward to working with Vishay to ensure that OEMs have easy access to our haptic technology.”

“We are excited to have this unique opportunity with Immersion to offer licensed, solenoid based haptic actuators to our customers,” said Mike Husman, Senior VP of the Inductors Business Segment of Vishay. “Our haptic actuators provide excellent performance to enable our customers to cost effectively implement near HD quality haptic technology to many new and existing applications. This license agreement makes it easy for customers to have an Immersion license just by purchasing from Vishay. No separate agreement and associated costs are needed between our end customer and Immersion.”

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.

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.

About Vishay

Vishay manufactures one of the world’s largest portfolios of discrete semiconductors and passive electronic components that are essential to innovative designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical markets. Serving customers worldwide, Vishay is The DNA of tech.™ Vishay Intertechnology, Inc. is a Fortune 1,000 Company listed on the NYSE (VSH). More on Vishay at www.Vishay.com.

The DNA of tech™ is a trademark of Vishay Intertechnology, Inc.

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,” “look,” 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.

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: general business and economic conditions; manufacturing or supply chain interruptions or changes in customer demand because of COVID-19 or otherwise; 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; unanticipated changes in the markets in we operate; delay in or failure to achieve adoption of or commercial demand for our products or third party products incorporating our technologies; 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 Vishay’s and Immersion’s respective Annual Report on Form 10-K for 2021 and in each company’s 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.

(IMMR – C)

View source version on businesswire.com: https://www.businesswire.com/news/home/20230109005228/en/

Investor Contact:

Aaron Akerman

Immersion Corporation

514-987-9800 ext. 5110

aakerman@immersion.com

Source: Immersion Corporation

FAQ

What is the significance of the Immersion and Vishay license agreement for IMMR and VSH?

The agreement simplifies access to haptic technologies for OEMs purchasing solenoid-based haptic actuators from Vishay, potentially increasing adoption and market presence.

How does the license agreement impact future sales for Immersion Corporation?

The partnership is expected to drive sales by facilitating easier technology integration for customers, enhancing Immersion's market reach.

What are haptic actuators and their relevance in technology?

Haptic actuators provide tactile feedback, enhancing user experience in various applications, including mobile devices, gaming, and automotive.

What companies are involved in the haptic technology agreement?

The agreement involves Immersion Corporation (NASDAQ: IMMR) and Vishay Intertechnology, Inc. (NYSE: VSH).

When was the license agreement between Immersion and Vishay announced?

The license agreement was announced on January 9, 2023.