Avanci Announces LG Electronics as New Licensor

DALAS – (BUSINESS WIRE) – Today Avanci announced that LG Electronics has joined its universal licensing market. Following this announcement, all existing Avanci licensees and those who join Avanci in the future will receive a license for the major 4G, 3G and 2G patents created and owned by LG Electronics, as well as 48 other patent holders already on the market.

“We are pleased that LG Electronics, a long-term innovator and contributor to the development of cellular standards, as a licensor of Avanci,” he said. Kasim Alphalahifounder and CEO of Avanci.

Through its automotive component business, LG Electronics is a global supplier to the automotive industry and a market leader in the development of automotive connectivity solutions as well as advanced parts for electric vehicles and services, using LG’s extensive user experience and technology derived from a variety of companies. consumer electronics experience for decades.

“LG Electronics is pleased to join the Avenci market,” they said Jay Cho, Senior Vice President and Head of the LG Electronics Intellectual Property Center. “Through Avanci, our innovations in core cellular technologies can be easily and efficiently shared with automakers around the world.”

Avanci’s independent market has changed the way companies share technology by licensing the intellectual property of many different patent owners in a single transaction at low fixed rates that are paid once throughout the life of the vehicle. By optimizing the technology sharing process, Avanci provides car manufacturers with an efficient and transparent way to access the wireless technology needed to make their products available online.

About Avanta:

Avanci believes that sharing patented technologies in the Internet of Things could be easier. As an independent intermediary working at the intersection of different industries, our comprehensive solution is designed to ensure the efficiency, convenience and predictability of the licensing process. Since 2016, Avanci has been promoting innovation by creating connections through our market. Companies with substantial patents share their innovations with companies that create connected IoT products in one place, with one agreement and at one fair fixed rate. In 2020, the World Economic Forum named Avenci a pioneer of technology for its work to accelerate innovation for the Internet of Things. www.avanci.com

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