Renewed agreement expands licensing terms to include new opportunities in the automotive markets
SAN JOSE, Calif., Feb 22, 2011 --(BUSINESS WIRE)-- Immersion Corporation (NASDAQ:IMMR), the leading developer and licensor of haptics technology, today announced that Alps Electric Co., Ltd. (Alps Electric), a leading global components manufacturer, has extended and expanded its license to Immersion's TouchSense™ haptics technology.
The previous agreement between the companies was set to expire in 2012. The new agreement extends the agreement through 2016 and broadens coverage, aligning with Alps Electric's extensive reach.
"We've seen great success throughout our relationship with Alps Electric through their position as a premier supplier of automotive systems to some of the world's premium automotive brands," said
Craig Vachon, Chief Commercial Officer of Immersion. "We're pleased that Alps Electric customers have found such value in our TouchSense products, and look forward to working with Alps Electric to offer our technology to additional customers looking to create a more compelling and intuitive user interface through haptics."
"As our automotive customers continue to develop products that require touch interfaces, the inclusion of force-feedback and tactile response provides significant value" said
Takashi Kimoto, Director, General Manager of Automotive Division of Alps Electric. "By extending our agreement with Immersion, we will be able to continue to incorporate Immersion's high-end haptics technology into our diverse range of products."
About Immersion (www.immersion.com)
Founded in 1993, Immersion (NASDAQ: IMMR) is the leading innovator in haptics technology; the company's touch feedback solutions deliver a more compelling sense of the digital world. Using Immersion's high-fidelity haptic systems, partners can transform user experiences with unique and customizable touch feedback effects; excite the senses in games, videos and music; restore "mechanical" feel by providing intuitive and unmistakable confirmation; improve safety by overcoming distractions while driving or performing a medical procedure; and expand usability when audio and visual feedback are ineffective. Immersion's TouchSense technology provides haptics in mobile phone, automotive, gaming, medical and consumer electronics products from world-class companies. With over 1,000 issued or pending patents in the U.S. and other countries, Immersion helps bring the digital universe to life.
Immersion, the Immersion logo and TouchSense are trademarks of Immersion Corporation in the United States and other countries. ALPS and Haptic Commander are trademarks of Alps Electric. All other trademarks are the property of their respective owners.
About ALPS Electric
Alps Electric (Tokyo:6770) is a leading global manufacturer of high-quality electronic components for mobile devices, home electronics, vehicles and industrial equipment. With the philosophy of "Perfecting the Art of Electronics" Alps Electric supplies over 40,000 different components to about 2,000 companies all over the world. For more information, visit http://www.alps.com.
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 Immersion products creating a more compelling and intuitive user interface through haptics.
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, the effects of the current macroeconomic climate; delay in or failure to achieve commercial demand for Immersion's products (especially in the automotive market); a delay in or failure to achieve the acceptance of force feedback as a critical user experience (especially in the automotive market); unanticipated difficulties and challenges encountered in product development efforts or in connection with Immersion's license with Alps Electric. 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, 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 or legal partnership.
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Source: Immersion Corporation
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