Benzinga | Aug 11, 2021 04:11PM EDT

Immersion Extends Automotive License Deal With Stanley Electric For Undisclosed Sum

* Haptic technologies developer Immersion Corp (NASDAQ:IMMR) expanded its license agreement with Stanley Electric Co Ltd (OTC:STAEF) (OTC:STAEY) to use haptics in the automotive market. The financial terms of the transaction remain undisclosed.

* Stanley is a global supplier of lighting products and electronic components, including automotive electronics products and control panels for printers.

* Immersion's touch feedback technology enhances in-vehicle interfaces and applications. Increasingly, haptics is being designed into automotive applications as more vehicles incorporate tactile effects for operations such as entertainment, navigation, and climate control.

* Price Action: IMMR shares closed lower by 0.80% at $7.42 on Wednesday.