Adeia Renews Media IP License Agreement with Funai

Adeia Inc. (Nasdaq: ADEA), the company whose patented innovations shape the way the world explores and experiences entertainment, today announced that Funai Electric Co., Ltd., a global electronics manufacturer of connected TVs (CTV), Blu-ray and DVD players and recorders as well as related devices, has agreed to renew its license for Adeia’s media intellectual property (IP) portfolio.

As Funai pursues its stated mission to produce consumer electronics that enhance the daily lives of customers around the world through simple and engaging products, it is also leveraging the latest digital innovations to expand access to compelling digital experiences.

“Adeia’s IP contains the foundational technologies that help audiences search, find and enjoy the content and experiences they desire on CTVs and other connected devices,” said Dr. Mark Kokes, Adeia's chief licensing officer and general manager, media. “Funai’s renewal of Adeia’s media IP portfolio demonstrates their commitment to meeting the ever-changing expectations of their consumers.”

About Adeia

Adeia is a leading R&D and intellectual property (IP) licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries. Adeia’s fundamental innovations underpin technology solutions that are shaping and elevating the future of digital entertainment and electronics. Adeia’s IP portfolios power the connected devices that touch the lives of millions of people around the world every day as they live, work and play. For more, please visit www.adeia.com.

For Information Contact:Investor RelationsChris [e-mail]

Media RelationsStephanie StockerConveyor [e-mail]