Avanci, a known technology licensing company, recently announced that it has signed a patent license agreement with Volvo Cars. This agreement will help in increasing the total number of auto brands licensed through the Avanci marketplace to 14. By signing an agreement with Avanci, Volvo Cars receives licenses to the 2G, 3G, and 4G essential patents of the 36 patent owners that participate in the marketplace today, as well as patent owners that join Avanci in the future.
“We are very pleased to have Volvo Cars, one of the most well-known and respected car brands in the world and a leader in connectivity, as a licensee,” said Kasim Alfalahi, founder and chief executive officer of Avanci. “This agreement continues a very successful 2019 for Avanci, a year in which overall participation in our licensing marketplace has doubled. The simplicity, efficiency, and predictability of our one-stop solution increases substantially with every new participant, allowing licensees and patent owners to broadly share technology of today and continue developing the technology of the future.”
Avanci’s one-stop marketplace simplifies the way automotive companies provide connectivity by including license rights to the vast majority of cellular standard essential patents in a single agreement. By streamlining the process, Avanci is accelerating the growth of the Internet of Things by providing manufacturers of IoT products with an efficient and transparent way to access the wireless technology needed to bring their products and services to customers worldwide.
In essence, this agreement will make Volvo cars become a licensee of the Avanci marketplace, thereby earning a license to essential patented technology for connected cars.