Adeia Extends IP License Agreement with Verizon

Adeia Inc. (Nasdaq: ADEA) (the “Company” or “Adeia”), today announced that Verizon (NYSE, Nasdaq: VZ) has entered into a multi-year extension of its license to Adeia’s media patent portfolio.

As one of the largest communications providers in the U.S., Verizon offers a variety of services to customers over its networks, including video, voice, wireless internet data access, data security solutions and home and business communications.

“Our patent license extension with Verizon further confirms the value and longevity of Adeia’s intellectual property portfolios, including in the U.S. pay-TV market,” said Dr. Mark Kokes, Adeia’s chief licensing officer and general manager, media. “We are excited to extend our relationship with Verizon, one of the world’s leading providers of technology, communications, information and entertainment products.”

Adeia has spent decades investing in research and development to create a market-leading portfolio for the media and entertainment industry. Adeia’s innovative patents touch practically every aspect of consumers’ day-to-day interaction with their entertainment, enabling Adeia’s customers to build customized, next-generation digital entertainment solutions for users around the globe.