Immersion Corp. Shares Up 16% After Hours on Deals with Samsung, Sony

   By Stephen Nakrosis 
 

Shares of Immersion Corp. (IMMR) are trading higher in after-hours action on Monday, after the company settled litigation with Samsung Electronics Co. and a struck a licensing agreement with Sony Interactive.

At 4:59 p.m. ET, shares of the touch feedback technology company were trading 15.62% higher at $10.66. They closed the day's regular trading session with an 11.26% loss, finishing at $9.22.

Immersion said it entered a settlement and license agreement with Samsung Electronics that resolved the global patent infringement litigation brought by Immersion against Samsung. Terms of the agreement are confidential, but Immersion said the overall settlement and license fall in line with its "business model of quarterly payments and revenue recognition."

Immersion also said Monday it signed an agreement with Sony Interactive Entertainment to license Immersion's advanced haptics patent portfolio.

The company also said it was raising its guidance, and now expected 2019 revenue in a range between $36 million and $41 million.

--Write to Stephen Nakrosis at [e-mail]

(END) Dow Jones Newswires

May 13, 2019 17:30 ET (21:30 GMT)

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