WILMINGTON, DE — InterDigital, Inc. (Nasdaq: IDCC) signed a new Internet of Things patent licensing agreement with an unnamed fintech company, extending the company’s monetization strategy beyond smartphones into connected payment hardware and enterprise devices.
The agreement covers point-of-sale devices using cellular 3G and 4G standards as well as Wi-Fi 5 and Wi-Fi 6 technologies under InterDigital’s patent portfolio, the company stated.
The deal reflects continued competition among wireless technology developers to secure licensing revenue from connected devices outside the traditional handset market, particularly as payment terminals, industrial equipment, vehicles, and retail infrastructure become increasingly dependent on wireless connectivity.
Chief Licensing Officer Julia Mattis characterized the agreement as part of broader momentum in the IoT licensing market.
“This agreement is another demonstration of the momentum we’re building across the IoT space,” Mattis stated. “This company is a widely recognized disruptor in the fintech sector and we’re glad that it recognizes the value our wireless technology brings to its business.”
InterDigital did not disclose the identity of the licensee or financial terms of the agreement.
The company develops and licenses wireless, video, and artificial intelligence technologies used in connected devices, consumer electronics, automotive systems, and cloud-based services. Its licensing business has historically centered on cellular communications patents tied to global wireless standards.
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