New Delhi: Avanci, an independent marketplace offering end to end license for patented technology, recently announced that it had signed patent license agreements with Hyundai Motor and Kia Corporation, increasing the total number of automotive brands licensed through Avanci to 45.
Connected vehicles from the Genesis, Hyundai and Kia brands are acquiring licenses for basic 2G, 3G and 4G patents from the 50 licensees participating in Avanci's vehicle licensing program today, as well as others who will join as licensors in the future.
“We are pleased to welcome Hyundai and Kia, South Korean automakers and one of the world's largest mobility solutions providers, as Avanci licensees,” said Kasim Alfalahi, founder and CEO of Avanci. "These agreements represent significant growth for Avanci and demonstrate our commitment to providing simple, predictable and efficient licensing solutions for the automotive industry."
Avanci transformed the way companies share technology by licensing intellectual property from many different patent holders in a single transaction, at fixed prices, paid once over the life of a vehicle.
By streamlining the technology sharing process, Avanci offers automakers an efficient and transparent way to access the wireless technology needed for vehicles connected to them. Tens of millions of connected vehicles have been licensed on the world's roads through Avanci.