Investment Thesis
InterDigital (IDCC) has traditionally been a leader in patent licensing business in wireless technologies, being the top 3 or top 5 holder with a share of 7%-10% of standard essential patents in 3G, 4G and now 5G. With the acquisition of the Technicolor patent licensing business in 2018 and its Research & Innovation (R&I) unit in 2019, IDCC is now the leader in advanced video coding technologies and a significant AI effort at the intersection of wireless and video technologies.
IDCC has Apple and Samsung as its licensing customers and has recently added