InterDigital (IDCC), Sony (SNE) Enter New M@M Wireless Research Venture
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InterDigital, Inc. (Nasdaq: IDCC) and Sony Corporation of America (NYSE: SNE) today announced the launch of a joint venture to combine Sony’s consumer electronics expertise with InterDigital’s pioneering wireless machine-to-machine (M2M) and bandwidth management research. The joint venture, called Convida Wireless, will focus on driving new research in the growing field of M2M wireless communications and other connectivity areas.
Convida Wireless represents a new collaboration between Sony, a longtime technology leader, and InterDigital Solutions, a unit announced in October by InterDigital that explores new engagement models with industry players. Based on the terms of the agreement, the parties will contribute funding and resources for additional M2M research and platform development, which will be carried out by InterDigital Solutions. Stephens Capital Partners LLC, the principal investing affiliate of Stephens Inc., a full service investment banking firm headquartered in Little Rock, Arkansas, will be a minority investor in Convida Wireless. The agreement also includes a patent license from InterDigital for Sony’s 3G and 4G products.
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Convida Wireless represents a new collaboration between Sony, a longtime technology leader, and InterDigital Solutions, a unit announced in October by InterDigital that explores new engagement models with industry players. Based on the terms of the agreement, the parties will contribute funding and resources for additional M2M research and platform development, which will be carried out by InterDigital Solutions. Stephens Capital Partners LLC, the principal investing affiliate of Stephens Inc., a full service investment banking firm headquartered in Little Rock, Arkansas, will be a minority investor in Convida Wireless. The agreement also includes a patent license from InterDigital for Sony’s 3G and 4G products.
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