Adeia completed the spin-off of Xperi.

Adeia, a provider of licensed innovations, completed the spin-off of Xperi, a firm that invents, develops, and delivers technologies. Financial terms were not disclosed. "Our strategy is closely aligned with broad industry growth trends and creates a highly scalable revenue stream through engagement-based monetization. Our market engagement model is well positioned to drive partner adoption by allowing TV OEMs and automotive OEMs to brand the experience, retain customer ownership, and actively participate in long term revenue generation. Our strategic growth, market opportunity, and unique value proposition are demonstrated by recent high profile customer wins such as a key TV OS win with Vestel, one of the three largest global TV producers, wins with BMW and Mercedes in automotive, and numerous IPTV wins, supported by a strong pipeline across our portfolio," Jon Kirchner, Xperi CEO.