SEOUL -- Rovi Corporation (Nasdaq:ROVI) and LG Electronics, Inc. (KSE:066570.KS) have agreed to settle their patent disputes by entering into a multi-year license agreement.
The agreement grants LG a license to Rovi's patent portfolio for use across all of LG's product lines. In addition, the agreement provides LG a broad right to include certain Rovi solutions in LG consumer electronics products. Terms of the agreement were not disclosed.
"We're pleased to renew our business relationship with LG," said Tom Carson, CEO of Rovi Corporation. "From Rovi's standpoint, the opportunity to have our technology adopted by a leading major brand like LG will further enhance consumers' ability to connect to, discover and enjoy entertainment content on multiple devices."