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Immersion Signs Agreement to Make Haptic Technology Available Through IC Partner Awinic Technology Limited

2019-08-23 10:03:00

SAN JOSE, Calif.--()--Immersion Corporation (NASDAQ:IMMR), the leading developer and licensor of touch feedback technology, announced that it has signed a license agreement with Awinic Technology Limited (Awinic) to make Immersion haptic patent and technology licenses available to mobile phone and wearable OEMs through Awinic.

Awinic, based in China, is a fabless design house of analog and mixed-signal integrated circuits. Under the agreement, mobile phone and wearable OEMs that acquire certain Awinic haptic driver ICs will have seamless access to Immersion’s 25 years of haptic experience and portfolio of more than 3,600 issued or pending patents. The license simplifies the haptic technology acquisition process by making available a wide variety of haptic features, including mechanical button replacement, automated generation of haptics based on audio, multi-actuator support, and pressure-based haptics.

“We are thrilled to establish a partnership with Awinic,” said Ramzi Haidamus, Immersion’s CEO. “As the adoption of haptics increases in markets all over the world, this partnership is an essential component of our strategy to meeting that demand, ensuring OEMs have easy access to haptic technology and IP.”

“As a China-based high-tech company, we do care for the protection of IP,” said Sun Hongjun, Awinic’s CEO. “Not only will the partnership with Immersion be mutually beneficial, now mobile phone and wearable OEMs can more easily integrate haptics, including product selection and technical services. What’s more, our cooperation will enhance the whole industrial ecosystem with the power of touch.”

About Immersion

Immersion Corporation (NASDAQ: IMMR) is the leading innovator of touch feedback technology, also known as haptics. The company provides technology solutions for creating immersive and realistic experiences that enhance digital interactions by engaging users’ sense of touch. With more than 3,600 issued or pending patents, Immersion's technology has been adopted in more than 3 billion digital devices, and provides haptics in mobile, automotive, gaming, medical and consumer electronics products. Immersion is headquartered in San Jose, California with offices worldwide. Learn more at www.immersion.com.

About Awinic

Founded in June 2008, Shanghai Awinic Technology Co., Ltd is a high-tech company focusing on the design of mixed signal, analog, and RF IC for mobile phone, IoT, wearables and consumer electronics areas. Awinic was listed on the NEEQ (National Equities Exchange and Quotations: 833221).

Awinic’s core team owns experiences in analog IC design and management and has set up a stringent quality assurance system. The performance and quality of some products have surpassed products of same types by the first-rate international manufacturers.

Awinic has five major product lines: audio driver, LED driver, power management, RF device and haptic & motor driver. More than 350 products with independent intellectual property rights are widely utilized in domestic and foreign mobile phones as well as IoT brands. Learn more at www.awinic.com.

Forward-looking Statements

This press release contains "forward-looking statements" that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of Immersion Corporation and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements.

All statements, other than the statements of historical fact, are statements that may be deemed forward-looking statements, including, but not limited to, the statement regarding the adoption of haptics increasing in markets all over the world, and the statement that the Awinic partnership is an essential component of our strategy to meeting demand.

Immersion's actual results might differ materially from those stated or implied by such forward-looking statements due to risks and uncertainties associated with Immersion's business, which include, but are not limited to: unanticipated difficulties and challenges encountered in product development efforts (including with respect to Immersion’s touch feedback technology) by Immersion and its licensees (including Awinic Technology Limited); unanticipated difficulties and challenges encountered in implementation efforts by Immersion's licensees (including Awinic Technology Limited); unanticipated changes in the IC industry or the mobile phone/wearable markets; adverse outcomes in any future intellectual property-related litigation and the costs related thereto; the effects of the current macroeconomic climate; delay in or failure to achieve adoption of or commercial demand for Immersion's products or third party products (including automotive products) incorporating Immersion's technologies; and a delay in or failure to achieve the acceptance of touch feedback as a critical user experience. Many of these risks and uncertainties are beyond the control of Immersion.

For a more detailed discussion of these factors, and other factors that could cause actual results to vary materially, interested parties should review the risk factors listed in Immersion's most current Form 10-K, and Form 10-Q, both of which are on file with the U.S. Securities and Exchange Commission. The forward-looking statements in this press release reflect Immersion's beliefs and predictions as of the date of this release. Immersion disclaims any obligation to update these forward-looking statements as a result of financial, business, or any other developments occurring after the date of this release.

The use of the word "partner" or “partnership” in this press release does not mean a legal partner.

Immersion and the Immersion logo are trademarks of Immersion Corporation in the United States and other countries. All other trademarks are the property of their respective owners.

(IMMR - C)

Contacts

Media Inquiries: 
Immersion 
Linda Quach, +1-408-350-8832 
lquach@immersion.com

or

Investor Inquiries: 
The Blueshirt Group 
Jennifer Jarman, +1-415-217-5866 
jennifer@blueshirtgroup.com

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