InterDigital shares up after IoT payments patent agreement
InterDigital traded near flat to slightly higher in late trading Thursday, changing hands at $267.10. The wireless and video patent group announced a fresh Internet of Things licensing agreement with a payments tech firm. Regular Nasdaq trading was finished, with the stock in after-hours moving in a range between $261.15 and $268.38. InterDigital didn’t give much detail, but the new catalyst matters for the IDCC story. The company relies on licensing its patents, charging device makers for use. Investors are waiting to see if that business can go wider than just smartphones, into other connected devices.