Sonos and Legrand sign multi-year licensing deal

Rhea-AI Summary

Sonos (Nasdaq: SONO) and Legrand have entered a multi-year licensing agreement covering Legrand's NUVO multi-room wireless audio products. This deal allows Legrand to license Sonos’ patents, marking a significant recognition of Sonos' intellectual property value. Chief Legal Officer Eddie Lazarus emphasizes that this collaboration demonstrates a fair marketplace where innovation is acknowledged and compensated appropriately. Sonos, a leader in multi-room wireless home audio, continues to enhance user experiences through its technology.

Positive

• Multi-year licensing agreement with Legrand enhances revenue through patent licensing.
• Recognition of Sonos' intellectual property supports its market position.

Negative

• None.

Sonos (Nasdaq: SONO) and Legrand today announced a multi-year licensing deal to cover the entire range of Legrand’s NUVO multi-room wireless audio products. As part of this agreement, Legrand will pay to license Sonos’ patents for all such audio products.

“Sonos innovation created multi-room wireless audio - the technologies we invented enable many of today’s listening experiences and we continue to innovate to enable the experiences of tomorrow,” said Eddie Lazarus, Chief Legal Officer. “We believe in a fair marketplace where companies compete on a level playing field and contribute with their own innovations and experiences. We’re pleased to see more companies such as Legrand recognizing the strength and value of our IP and providing appropriate compensation.”

About Sonos

Sonos (Nasdaq: SONO) is one of the world’s leading sound experience brands. As the inventor of multi-room wireless home audio, Sonos innovation helps the world listen better by giving people access to the content they love and allowing them to control it however and wherever they choose. Known for delivering an unparalleled sound experience, thoughtful design aesthetic, simplicity of use, and an open platform, Sonos makes the breadth of audio content available to anyone. Sonos is headquartered in Santa Barbara, California. Learn more at www.sonos.com.

About Legrand

Legrand is a global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for use in commercial, industrial and residential markets makes it a benchmark for customers worldwide. Innovation for a steady flow of new products with high added value is a prime vector for growth, including, in particular, connected devices stemming from Legrand’s global Eliot (Electricity and IoT) program. Legrand reported sales of $5.6 billion in 2016. Legrand has a strong presence in North and Central America, with a portfolio of well-known product lines that include C2G, Cablofil, Electrorack, Luxul, Middle Atlantic, Nuvo, OCL, On-Q, Ortronics, Pass & Seymour, Pinnacle, QMotion, Quiktron, Raritan, Solarfective, Vantage, Wattstopper, and Wiremold. Legrand is listed on Euronext Paris and is a component stock of indexes including the CAC40, FTSE4Good, MSCI World, ASPI, Corporate Oekom Rating and DJSI (ISIN code FR0010307819) www.legrand.us.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201215006031/en/

FAQ

What is the recent deal between Sonos and Legrand?

Sonos announced a multi-year licensing agreement with Legrand for its NUVO multi-room wireless audio products.

How does the Sonos and Legrand agreement impact SONO stock?

The licensing deal may enhance Sonos' revenue through patent licensing, potentially benefiting SONO stock.

When was the licensing deal between Sonos and Legrand announced?

The licensing deal was announced recently, although the exact date is not specified in the press release.

What products are covered in the Sonos and Legrand deal?

The deal covers Legrand's NUVO multi-room wireless audio products.

How does Sonos view its intellectual property in the marketplace?

Sonos considers its intellectual property as vital and believes in a fair marketplace for innovation and compensation.