Touch feedback technology developer Immersion Corporation (IMMR) Thursday said it entered into a multi-year license agreement with Samsung Electronics. Immersion will license its TouchSense and Integrator solutions as well as cover Samsung's prior and future use of simple forms of haptic effects termed Basic Haptic, in smartphones and other mobile devices. Following the deal, Immersion revised up its 2013 revenue guidance.
Immersion now expects full-year revenue in the range of $44 million to $48 million, up from its earlier guidance of $28 million-$32 million. The company also said it expects adjusted EBITDA for 2013 to be in the range of $12 million to $15 million.
Commenting on the development, Immersion CEO Victor Viegas said, "We are very pleased by Samsung's broad adoption of our haptic technology, and we believe that this agreement marks an important milestone in our strategy to monetize our technology more fully within the mobile market..."
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