SANTA CLARA, Calif., May 23, 2002 -- InterTrust Technologies Corporation (Nasdaq: ITRU) today announced a global licensing agreement with Sony Corporation (NYSE: SNE) that will allow Sony to use certain InterTrust patents in products that distribute digital consumer media content.
Under the agreement, InterTrust will receive a $28.5 million fee, in addition to running royalties for future Sony products and services that integrate InterTrust patents related to digital rights management (DRM).
InterTrust, which holds key patents in trusted computing and DRM, has licensed its intellectual property to Sony for the development, manufacture and marketing of digital media products and services across its diverse media and electronics business units.
"We are delighted that Sony, the world's leading consumer electronics provider, will use our inventions to develop new formats and platforms for electronic media distribution," said David Lockwood, CEO and President of InterTrust. "I believe that this agreement will help enable the next phase of market development for consumer media."
About InterTrust Technologies Corporation
InterTrust develops and licenses intellectual property for DRM and trusted computing. The Company holds 24 U.S. patents and has approximately 90 patent applications pending worldwide. InterTrust's patent portfolio covers software and hardware techniques that can be implemented in a broad range of products that use DRM and trusted computing technologies, including digital media platforms and web services. InterTrust has research, engineering, and IP groups focus on developing and monetizing next-generation technologies and inventions.
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The statements contained in this release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, including statements regarding InterTrust's expectations, beliefs, hopes, intentions or strategies regarding the future including statements regarding future royalties to be received by InterTrust. There is no assurance that InterTrust's claims regarding its intellectual and invention rights will be upheld. Further information regarding these and other risks are included in the company's Form 10-Q for March 31, 2002 and other filings that have been made with the Securities and Exchange Commission.
Copyright © 2002 InterTrust Technologies Corporation. All rights reserved. InterTrustis a registered trademarks of InterTrust Technologies Corporation, all of which may or may not be used in certain jurisdictions. All other brand or product names are trademarks or registered trademarks of their respective companies or organizations.