SAN JOSE, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the company whose patented innovations shape the way the world explores and experiences entertainment, today announced that Panasonic Entertainment & Communication Co., Ltd. (“Panasonic”), a global provider of services and products, has agreed to a multi-year renewal of its license for Adeia's media intellectual property (IP) portfolio.

As a leading manufacturer of smart and connected TVs and a wide range of consumer electronics, Panasonic has played an iconic role in offering customers around the world access to innovative digital and entertainment technologies.

"Panasonic is a touchstone brand for an extensive lineup of consumer electronics, including smart and connected TVs," said Dr. Mark Kokes, Adeia's chief licensing officer and general manager, media. "Adeia's constantly evolving media IP portfolio contains foundational technologies that support original equipment manufacturers' efforts to meet the constantly changing entertainment technology needs and desires of consumers."

As demand for new digital and entertainment technologies grows, leading TV manufacturers like Panasonic are embracing and deploying the latest technologies to enhance the consumer experience.

About Adeia

Adeia is a leading R&D and intellectual property (IP) licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries. Adeia’s fundamental innovations underpin technology solutions that are shaping and elevating the future of digital entertainment and electronics. Adeia’s IP portfolios power the connected devices that touch the lives of millions of people around the world every day as they live, work and play. For more, please visit www.adeia.com.

For Information Contact:
Investor Relations
Chris Chaney
IR@adeia.com

Media Relations
JoAnn Yamani
press@adeia.com
+1 408-473-2683