Immersion (IMMR) Reports License Agreement with LG, Reaffirms 2014 Guidance

Immersion Corporation (NASDAQ: IMMR), the leading developer and licensor of touch feedback technology, today announced that it has signed a new agreement with LG Electronics, Inc., one of the world’s largest providers of mobile devices. Reaffirming the ongoing relationship between the two companies, the new agreement is a multi-year worldwide license for Immersion’s TouchSense® software and Basic Haptics IP.

“This agreement speaks to the importance of tactile feedback in how consumers interact with their digital devices,” said Dennis Sheehan, SVP of sales and marketing at Immersion. “Immersion technology offers a unique and compelling way to enhance the mobile experience through the sense of touch.”

Based on its current outlook, the Company reaffirms that it expects revenues for 2014 to be in the range of $51 million to $56 million, an increase of between 7% and 18% over the prior year, and non-GAAP net income to be in the range of $6 million to $12 million.

Immersion’s TouchSense Software allows OEMs to create advanced, multi-dimensional user experiences with tactile effects. Using Immersion’s software, device manufacturers are able to design and integrate customizable, high-quality, power-efficient tactile effects in touch user interfaces, applications and services.

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