InterDigital shares up after IoT payments patent agreement
InterDigital shares edged up to $267.10 in after-hours trading Thursday after announcing a new Internet of Things licensing deal with an unnamed payments-technology company. The agreement covers point-of-sale devices under InterDigital’s global patent portfolio. Annualized recurring revenue rose 13% year-over-year to $567.2 million in the March quarter. Financial terms of the new deal were not disclosed.