Immersion Corporation IMMR, the leader in touch feedback technology
development and licensing, today announced it has entered into a multi-year
license agreement with Samsung Electronics Co., Ltd. In addition to providing
a license to Immersion's TouchSense® and Integrator solutions, the agreement
includes a patent license covering Samsung's prior and future use of simple
forms of haptic effects, sometimes referred to as Basic Haptics, in its
smartphones and other mobile devices.
“We are very pleased by Samsung's broad adoption of our haptic technology, and
we believe that this agreement marks an important milestone in our strategy to
monetize our technology more fully within the mobile market,” said Immersion
CEO Victor Viegas. “Having entered into this important customer agreement, we
are now in a position to raise our 2013 guidance, as we expect revenues for
the year to be in the range of $44 million to $48 million. In addition, while
we continue to anticipate increased spending related to our efforts to defend
and monetize our IP, we expect Adjusted EBITDA for 2013 to be in the range of
$12 million to $15 million,” concluded Mr. Viegas.
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