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As an investor, you have a unique opportunity to get behind a technology that is just beginning to reach its full potential. Just as touch input changed the way that billions of devices receive input from humans, touch feedback will change the way devices convey information back to us.  From mobile phones to wearables, game consoles to automobiles, haptic feedback is enriching the way that people interact with digital technology.  And the best is yet to come as content on mobile, video, games and social networks, become richer, more realistic and more personal with haptics.  At Immersion, we’re changing the digital world.

Oct 30, 2018

Immersion Signs License Agreement with Preh Incorporating Haptics into Automotive Surfaces, Panels

SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 30, 2018-- Immersion Corporation (NASDAQ:IMMR), a leading developer and licensor of touch feedback technology, today announced it has signed a multi-year license agreement with Preh GmbH (Preh), a leading supplier of human machine interface solutions (HMI) for automobiles and a preferred partner of renowned OEMs in the field of haptic feedback. The agreement provides Preh, based in Germany, with access to Immersion’s patented haptic technology for use in its in-vehicle surfaces and panels.

Haptic-rich interfaces for automotive operations such as entertainment, navigation, and climate control help reduce driver distraction and enhance the driving experience. There is an automotive industry trend to reduce moving parts, physical buttons, and knobs despite being genuinely intuitive in their operation. Therefore, increasingly, Tier-1 suppliers like Preh are designing haptics into their touch applications, as tactile feedback on touch surfaces makes the driving experience more intuitive and realistic and can help reduce eyes-off-road time. This is especially important as vehicles incorporate advanced systems like touch panels, touch screens, and sensory-based technology.

“We welcome Preh as a new licensee and look forward to seeing how it incorporates haptics into its next-generation interfaces,” said Tom Lacey, Immersion’s interim CEO. “The automotive sector continues to be a tremendous growth engine for us as haptics-enabled user interfaces are expected to migrate from today’s premium models to high-volume mainstream categories in the coming years.”

“With Immersion and Preh, two highly specialized partners have signed an agreement from which our OEM customers will strongly benefit in the field of touch feedback technology,” said Christoph Hummel, CEO of Preh GmbH. “Through the partnership with Immersion, we are able to make our highly sophisticated HMI solutions even better and further enhance the driving experience.”

About Immersion

Immersion Corporation (NASDAQ: IMMR) is the leading innovator of touch feedback technology, also known as haptics. With 25 years of experience, the company provides technology solutions for creating immersive and realistic experiences that enhance digital interactions by engaging users’ sense of touch. With more than 3,000 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 Preh

As a global automotive supplier, the Preh Group currently employs around 7,000 people and generates sales of around EUR 1.3 billion. Preh was founded in Bad Neustadt a. d. Saale in 1919 and has been part of the Joyson Group since 2011. Preh’s development and manufacturing capabilities include, in particular, HMI systems for passenger cars and commercial vehicles, infotainment, and connectivity solutions, as well as e-mobility control units.

Within the Joyson group of companies, Ningbo (China), founded by Jeff Wang in 2004, Preh is a subsidiary of the listed Joyson Electronics Corp. (600699: Shanghai) and forms the Automotive Electronics Division. Today, Joyson is one of the 30 largest automotive suppliers in the world.

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 that haptic interfaces reduce driver distraction and enhance the driving experience, the statement regarding the automotive industry trend to reduce moving parts, the statement concerning the importance of haptics in vehicles and the increase in Tier-1 suppliers’ incorporation of haptics into touch applications, Mr. Lacey’s statements concerning the automotive sector and its impact on Immersion, as well as the incorporation of haptic interfaces into various automobile models, and Mr. Hummel’s statements regarding the benefits of haptics and the sophistication of HMI solutions.

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 Preh); unanticipated difficulties and challenges encountered in implementation efforts by Immersion's licensees (including Preh); unanticipated changes in the automotive industry; 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.

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)

Source: Immersion Corporation

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