Avanci Signs Agreements with Hyundai and Kia

South Korean automakers join Avanci’s essential patent marketplace for connected vehicles

DALLAS--(BUSINESS WIRE)--Today, Avanci announced that it has signed patent license agreements with Hyundai Motor Company and Kia Corporation, increasing the total number of automotive brands licensed through Avanci to 45. Connected vehicles from the Genesis, Hyundai and Kia brands receive licenses to the 2G, 3G, and 4G essential patents of the 50 licensors that participate in Avanci’s automotive licensing program today, as well as others that join as licensors in the future.

“We are delighted to welcome Hyundai and Kia, South Korean automakers and together one of the world’s largest providers of mobility solutions, as Avanci licensees,” said Kasim Alfalahi, founder and chief executive officer of Avanci. “These agreements represent significant growth for Avanci and show our commitment to offering simple, predictable, and efficient licensing solutions for the automotive industry.”

Avanci has transformed the way companies share technology by licensing intellectual property from many different patent holders in a single transaction, at 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 for their connected vehicles. Tens of millions of connected vehicles on the world’s roads are licensed through Avanci.

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