Adeia Receives Decision in Videotron Litigation

Adeia, the newly launched brand for the intellectual property (IP) licensing business of Xperi Holding Corporation (NASDAQ: XPER) (“Xperi” or the “Company”), announced today that Rovi Guides, Inc. (“Rovi”), received a decision issued by The Honourable Justice Lafrenière of the Federal Court of Canada finding in favor of Videotron and its legacy illico platform.

“We are disappointed with today’s ruling, however it has no impact on our 2022 guidance. We are exploring all our options, including appealing the decision. We will continue to pursue our rights as we seek a mutually acceptable agreement with Videotron to allow the ongoing use of our patented technology, just as we have done broadly with the other major Canadian and US Pay-TV providers,” said Paul Davis, Adeia’s president. “Notably, the patents in this case represent a very small fraction of our overall portfolio of nearly 10,000 patent assets and only about one percent of the total Canadian portfolio. Our IP business outlook remains strong as we continue to successfully license, renew or extend licensing agreements across the industry, including in Canada.”

Specifically, the Court found each of the asserted claims of the four patents involved in the case were invalid. Last year, the Company filed a second lawsuit accusing Videotron of infringing four different patents relating to advanced DVR functionality, delivering video programming in multiple formats and switching between broadcast and streaming programs. This second litigation covers Videotron’s next-generation Helix platform. That lawsuit will continue forward.

The full decision is currently subject to confidentiality restrictions. As more information becomes available, the Company will determine whether further comment on the decision is appropriate.