WILMINGTON, Del. and ROCKVILLE, Md., Dec. 20, 2016 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research and development company, today announced the acquisition of Hillcrest Labs, a pioneer in sensor processing technology. Terms of the transaction were not disclosed.
Hillcrest Labs was founded in 2001 by Dan Simpkins, a technology entrepreneur with a proven track record of success. The company has innovated in the area of Smart TV, and their Freespace® sensor processing technology has broadened to encompass virtual reality (VR) and augmented reality (AR) systems, gaming systems, wearable devices, smartphones, robotics and other categories. Hillcrest Labs has won significant industry recognition, including multiple CES Innovations Honoree awards and inclusion in PC World’s 100 Best Products.
“Hillcrest Labs is driving some of the foundational innovation in sensors and sensor fusion, a technology that is already important today, and poised to become pervasive in a broad range of consumer electronic products including smartphones, AR and VR systems, wearables, and service robots, among others,” said William J. Merritt, President and CEO of InterDigital. “Their customer base features some of the top electronics companies worldwide, and adding them to the InterDigital team broadens our offering for mobile devices and accelerates our technology footprint in markets that are adjacent to our existing position.”
“InterDigital is an excellent partner for Hillcrest Labs, providing us with the resources and scale necessary to drive our market penetration in our existing markets while also enhancing our ability to pursue exciting new segments where our technology can add value,” said Dan Simpkins, Founder, Chairman and CEO of Hillcrest Labs. “For more than a decade, Hillcrest Labs has been a technology pioneer and market leader and today’s announcement is the culmination of years of innovation and dedication from our remarkable team. InterDigital’s own track record as an innovator on the global technology stage is closely aligned with our vision and we look forward to working together.”
Hillcrest Labs’ customers have included electronics giants like LG, Lenovo, ZTE, Coolpad, LeEco, Sony and others. The company has also developed an intellectual property portfolio of more than 235 granted patents and pending applications. The Hillcrest Labs team of approximately 40 employees will remain based in Rockville, MD as part of the InterDigital team.
About InterDigital®
InterDigital develops mobile technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400® index.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
About Hillcrest Labs
Hillcrest Labs is a leading global supplier of software, components and intellectual property to enable the intelligent use of sensors in consumer electronics and IoT devices. Today, Hillcrest’s products are used in the development of devices in the virtual reality (VR), augmented reality (AR), robotics, TV and motion remote control segments. Our proprietary and patented Freespace® technology transforms human and machine movement into high quality, application-ready information which enables developers and manufacturers to create everyday products that work with precision.