TX-AVANCI

Avanci today announced that Volkswagen AG has expanded its existing relationship with the Avanci one-stop licensing marketplace to include 4G standard essential patents (SEPs).

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“Volkswagen has been a valued Avanci licensee since 2019, and we are very pleased to have expanded our relationship to license Volkswagen 4G connected vehicles under the essential patents of the 49 patent owners participating in the Avanci marketplace,” said Kasim Alfalahi , Founder and Chief Executive Officer of Avanci.

Avanci’s truly independent marketplace has transformed the way companies share technology by licensing intellectual property from many different patent holders in a single transaction, at low, fixed rates, paid once for the lifetime of the vehicle. By streamlining the technology sharing process, Avanci provides automotive manufacturers with an efficient and transparent way to access the wireless technology needed to bring their products online.

About Avanci :

Avanci believes that sharing patented technology in the Internet of Things era can be simpler. As an independent intermediary working at the intersection of different industries, our one-stop solution is designed to bring efficiency, convenience, and predictability to the licensing process. Since 2016, Avanci has been driving innovation forward by making connections through our marketplace. Companies with essential patents share their innovations with companies creating connected products for the IoT in one place, with one agreement, and for one fair, flat rate. In 2020, the World Economic Forum named Avanci a Technology Pioneer for its work in accelerating innovation for the Internet of Things.

www.avanci.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220308005133/en/

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