SAN JOSE, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the company whose patented innovations enhance billions of devices and shape the way the world explores and experiences entertainment, has entered into a multi-year license agreement with X Corp., the owner of the social media platform formerly known as Twitter. The agreement also resolves all of the outstanding litigation between the companies.

"We are pleased to enter into this agreement and resolve the outstanding litigation with X Corp., a leading technology company and social networking platform, furthering our well-established intellectual property licensing business," said Kevin Tanji, chief legal officer at Adeia.

Adeia's fundamental innovations power their customers' next-generation products, delivering breakthroughs in digital experiences for consumer and enterprise applications. The company's IP shapes the way millions of people explore and experience entertainment and enhances billions of devices in an increasingly connected world.

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