AVENTURA, Fla. - Immersion (NASDAQ:IMMR) Corporation (NASDAQ: IMMR), known for its touch feedback technology called haptics, has entered into a licensing agreement with Meta Platforms (NASDAQ:META), Inc., the company formerly known as Facebook, Inc. The agreement, announced today, will permit Meta to utilize Immersion's haptic patents across its hardware, software, virtual reality (VR), and gaming products.
Eric Singer, President and CEO of Immersion, expressed enthusiasm about the collaboration, emphasizing the potential for enhancing the quality of haptic experiences in Meta's devices. Immersion's technology is designed to create immersive and realistic experiences that can improve digital interactions by engaging the user's sense of touch, a feature that is becoming increasingly important in VR gaming applications.
The importance of haptics in digital products is growing as the technology provides users with tactile feedback, making electronic experiences more realistic. Immersion's haptic technology is expected to contribute to the development of high-quality tactile effects in VR gaming, aiming to deliver a more immersive experience for users.
This partnership marks a significant step for Immersion, a company that specializes in developing and scaling haptic experiences for various consumer electronics, including mobile, automotive, and gaming sectors. The licensing agreement could be a strategic move for Immersion, ensuring its intellectual property is recognized in the burgeoning AR/VR market.
However, the press release also includes forward-looking statements that involve risks and uncertainties, cautioning that actual results could differ materially from those projected. Factors that could influence the company's results and financial condition include the ongoing impact of the COVID-19 pandemic, market changes, macroeconomic conditions, and the ability to achieve commercial demand for products incorporating Immersion's technologies.
The financial terms of the agreement were not disclosed in the press release. This news is based on a press release statement from Immersion Corporation.
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