XPER - Xperi's IP licensing business Adeia receives decision in Videotron Litigation

Adeia, the newly launched brand for the intellectual property licensing business of Xperi (NASDAQ:XPER), announced that Rovi Guides received a decision issued by The Honourable Justice Lafrenière of the Federal Court of Canada finding in favor of Videotron and its legacy illico platform. The unfavorable decision has no impact on 2022 guidance. "Notably, the patents in this case represent a very small fraction of our overall portfolio of ~10K patent assets and only ~1% of the total Canadian portfolio. Our IP business outlook remains strong as we continue to successfully license, renew or extend licensing agreements across the industry, including in Canada," Adeia's president Paul Davis commented. Specifically, the Court found each of the asserted claims of the four patents involved in the case were invalid. Shares trading 7.3% lower premarket.

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Xperi's IP licensing business Adeia receives decision in Videotron Litigation