Press Release
InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced that, together with its patent holding subsidiaries, it has signed a multi-year, worldwide, non-exclusive, royalty bearing patent license agreement with Huawei Investment & Holding Co., Ltd. ("Huawei”), one of the world’s leaders in the information and communications technology industry.
The agreement covers certain of Huawei’s products and certain of InterDigital’s essential patents. InterDigital and Huawei have also agreed to dismiss all pending litigation between the companies.
“This agreement, reached amid challenging circumstances given the current economic downturn, highlights the strength of our business and the value of InterDigital’s contributions to multiple generations of wireless and video standards,” said William J. Merritt, President and CEO. “The agreement also underscores the fairness and flexibility of our licensing approach, including our rate and portfolio transparency, which set an industry standard.”
