IoT Software Business Chordant, spun off by InterDigital, Launched as Standalone Company

IoT Software Business Chordant Launched as Standalone Company

Smart City Software Leader, Backed by Investments from InterDigital and a Sony Corporation of America affiliate, Becomes Independent Company with Operator and Smart City Focus

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January 31, 2019 16:15 ET | Source: InterDigital, Inc.
LONDON and BUFFALO, N.Y., Jan. 31, 2019 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research and development company, today announced the launch of the company’s Chordant™ business as a standalone company. The spinout of the unit, which now includes an affiliate of Sony Corporation of America as an investor along with InterDigital, gives the company added independence and flexibility in driving into its core operator and smart city markets.

Chordant provides a best-in-class oneM2M standards-compliant horizontal IoT platform, as well as a world-leading real-time data marketplace launched under the oneTRANSPORT™ brand in the UK in October 2017. The company builds on more than a decade of IoT and M2M-focused research and development at InterDigital. Since 2014, Chordant and its solutions have won 13 awards from major trade shows and publications, including Best Solution for Transportation and Logistics at the 2016 IoT Solutions World Congress in Barcelona and Smart City Deployment of the Year at the 2018 IoT Breakthrough Awards for its oneTRANSPORT data marketplace in the UK.

“Launching Chordant as a standalone company gives us the flexibility and independence to drive towards success in our markets and be as responsive to customers and partners as possible,” said Mika Rasinkangas, President of Chordant. “Our heritage with InterDigital has given us a tremendous research and solution development platform, and we enter this new phase with what we feel is the best, most comprehensive and future-proof data sharing and monetization solution with underlying technology platform in the market. Our new structure and founding investors put us in a tremendous position for success.”

InterDigital has had previous success with standalone commercial initiatives. XCellAir, the company’s Wi-Fi and small cell management initiative, was spun out in 2015, and was successfully acquired by Spanish Wi-Fi service provider Fon in April 2018.

About InterDigital®

InterDigital develops mobile technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400® index.

InterDigital is a registered trademark of InterDigital, Inc.

For more information, visit: www.interdigital.com.