Benzinga | Apr 5, 2021 08:38AM EDT

Resonant Signs Extension Of Its Licensing Agreement With A Tier-1 Chinese Foundry Partner; Financial Details Not Disclosed

Resonant Inc. (NASDAQ:RESN), a provider of radio frequency (RF) filter solutions developed on a robust intellectual property platform, designed to connect People and Things, has signed an extension to its licensing agreement with an existing Tier-1 Chinese foundry partner, providing prepaid royalties for multiple RF filter designs to address the China mobile handset market.



The new licensed bands leverage Resonant's current standard product library, allowing a quick time to market for customers. The agreement carries upfront prepaid royalties, as well as additional per unit royalties, after minimum production volumes are exceeded.

"The Chinese mobile handset market continues to grow at a rapid pace, as demonstrated by our Tier-1 foundry partner's desire to license designs for four additional bands from Resonant's increasingly valuable standard product library," said George B. Holmes, Chairman and CEO of Resonant. "Extending this agreement to provide licenses for eight bands in total enables our partner to take advantage of ever increasing market demand by expediting time to market, with assurance that its products are built with proven, effective designs.

"The prepaid royalty component of the agreement, which covers approximately one-third of the expected product life, while per unit royalties cover the remainder, is a testament to the design quality of our solutions. Our goal with this agreement, as with all of our industry partnerships, is to help our partners optimize their fabrication processes while decreasing production costs, and ultimately deliver a superior product to the market."

Resonant's Foundry Program provides fabless licensee partners with the complete services they need to produce filters developed with Resonant's ISN(r) design platform. Resonant's Foundry Program members are highly-experienced and high-quality foundries and backend service providers that have been successful working with filter designs created with Resonant's ISN(r) design methodology.