Immersion Corporation
Jul 26, 2017

Immersion Enters Into Multi-Year License Agreement With Mitsubishi Electric

Mitsubishi Electric to incorporate Immersion's haptics IP in automotive applications

SAN JOSE, Calif.--(BUSINESS WIRE)-- Immersion Corporation (NASDAQ:IMMR), the leading developer and licensor of touch feedback technology, today announced it has signed a multi-year license agreement with Tokyo-based Mitsubishi Electric Corp. Mitsubishi Electric is licensing Immersion's haptics IP for its automotive solutions.

Immersion's high-quality touch feedback technology enhances in-vehicle interfaces and applications. Increasingly, haptics is being designed into automotive applications as more and more vehicles incorporate high-quality tactile effects for operations such as entertainment, navigation and climate control.

"The sense of touch enhances the user experience, and we are pleased to work with Mitsubishi Electric to add haptics to its automotive applications," said Nobumitsu Shimada, Immersion's Representative Director and Country Manager, Japan. "Throughout the automotive interior, we look forward to seeing Mitsubishi Electric's next-generation interfaces enabled by our technology."

About Immersion

Immersion Corporation (NASDAQ: IMMR) is the leading innovator of touch feedback technology, also known as haptics. The company provides technology solutions for creating immersive and realistic experiences that enhance digital interactions by engaging users' sense of touch. With more than 2,400 issued or pending patents, Immersion's technology has been adopted in more than 3 billion digital devices, and provides haptics in mobile, automotive, advertising, gaming, medical and consumer electronics products. Immersion is headquartered in San Jose, California with offices worldwide. Learn more at www.immersion.com.

Forward-looking Statements

This press release contains "forward-looking statements" that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of Immersion Corporation and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements.

All statements, other than the statements of historical fact, are statements that may be deemed forward-looking statements, including, but not limited to, the statement that more and more vehicles incorporate high-quality tactile effects for operations such as entertainment, navigation and climate control, as well as the statements regarding the benefits of Immersion's high-quality touch feedback technology in automotive applications and the impact on Immersion's business.

Immersion's actual results might differ materially from those stated or implied by such forward-looking statements due to risks and uncertainties associated with Immersion's business, which include, but are not limited to: unanticipated difficulties and challenges encountered in product development efforts by Immersion and its licensees (including Mitsubishi Electric); unanticipated changes in the automotive industry and market; unanticipated difficulties and challenges encountered in implementation efforts by Immersion's licensees; adverse outcomes in any future intellectual property-related litigation and the costs related thereto; the effects of the current macroeconomic climate; delay in or failure to achieve adoption of or commercial demand for Immersion's products or third party products incorporating Immersion's technologies; and a delay in or failure to achieve the acceptance of touch feedback as a critical user experience. Many of these risks and uncertainties are beyond the control of Immersion.

For a more detailed discussion of these factors, and other factors that could cause actual results to vary materially, interested parties should review the risk factors listed in Immersion's most current Form 10-K, and Form 10-Q, both of which are on file with the U.S. Securities and Exchange Commission. The forward-looking statements in this press release reflect Immersion's beliefs and predictions as of the date of this release. Immersion disclaims any obligation to update these forward-looking statements as a result of financial, business, or any other developments occurring after the date of this release.

Immersion and the Immersion logo are trademarks of Immersion Corporation in the United States and other countries. All other trademarks are the property of their respective owners.

(IMMR - C)

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Source: Immersion Corporation

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