WILMINGTON, Del., April 28, 2020 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced that, together with its patent holding subsidiaries, it has signed a multi-year, worldwide, non-exclusive, royalty bearing patent license agreement with Huawei Investment & Holding Co., Ltd. ("Huawei”), one of the world’s leaders in the information and communications technology industry.

The agreement covers certain of Huawei’s products and certain of InterDigital’s essential patents. InterDigital and Huawei have also agreed to dismiss all pending litigation between the companies.

“This agreement, reached amid challenging circumstances given the current economic downturn, highlights the strength of our business and the value of InterDigital’s contributions to multiple generations of wireless and video standards,” said William J. Merritt, President and CEO. “The agreement also underscores the fairness and flexibility of our licensing approach, including our rate and portfolio transparency, which set an industry standard.”

About InterDigital^®

InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400® index.