Adeia Inc. (NASDAQ:ADEA) shares rose 5.7% on Monday after the company announced a new multi-year licensing agreement with Advanced Micro Devices (NASDAQ:AMD), granting AMD access to Adeia’s semiconductor intellectual property portfolio.
The deal also resolves all ongoing legal disputes between the two companies. Financial details of the agreement were not disclosed.
“We are pleased to reach this agreement with AMD, a global leader in high-performance computing and advanced semiconductor solutions,” said Paul E. Davis, chief executive officer of Adeia. “Resolving our disputes allows both companies to move forward and creates an opportunity for exploring future collaborations on advanced semiconductor technologies.”
Adeia’s technology portfolio includes intellectual property related to hybrid bonding, semiconductor packaging and semiconductor processing. Over the past three decades, the company has developed a range of innovations in semiconductor technologies and licenses its IP to chipmakers around the world.
Through the agreement, AMD will gain access to Adeia’s broader semiconductor IP portfolio, supporting its development of advanced computing and chip technologies.
Adeia develops and licenses technologies for both the semiconductor and media industries.