Verimatrix Assigns Historical NFC Patents to Infineon
Transaction completes company’s refocus on video content protection software and security of mobile applications
Regulatory News:
Verimatrix, (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced sold its historical portfolio of NFC patents to semiconductor company Infineon Technologies AG for nearly $2 million.
The divestiture puts an end to the participation of Verimatrix patents to the NFC patent licensing program which generated cumulative revenues for Verimatrix in excess of $50 million between 2014 and 2021, including $16.6 million in the second quarter of 2021.
The move comes after France Brevets, which managed the NFC patent license program, signed NFC patent licenses with all major smartphone manufacturers worldwide.
Verimatrix, then known as Inside Secure, had been one of the pioneers of NFC near-field communication technology in the early 2000s. In 2014, initiating a strategic shift, the company transferred its NFC technology and licensed its NFC intellectual property rights to Intel for $19 million, while retaining ownership of its NFC patent portfolio. In 2016, the company sold the remainder of its semiconductor chip business to WiseKey.
Verimatrix is now fully focused on its core business of video content and mobile application protection. As previously announced, the company will present its strategic plan on March 10, 2022.
About Verimatrix
Verimatrix (Euronext Paris: VMX) helps power the modern connected world with security made for people. We protect digital content, applications, and devices with intuitive, people-centered and frictionless security. Leading brands turn to Verimatrix to secure everything from premium movies and live streaming sports, to sensitive financial and healthcare data, to mission-critical mobile applications. We enable the trusted connections our customers depend on to deliver compelling content and experiences to millions of consumers around the world. Verimatrix helps partners get to market faster, scale easily, protect valuable revenue streams, and win new business. Visit www.verimatrix.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220112005746/en/
Verimatrix Investor Contact:
Jean-François Labadie, Chief Financial Officer
finance@verimatrix.com
Verimatrix Media Contact:
Matthew Zintel
matthew.zintel@zintelpr.com
