UEI in Warrants Pact With Comcast for Development of Advanced Tech

Universal Electronics (UEI) said it signed a warrants agreement with Comcast as an extension of a partnership to develop advanced technology products. That follows a development and supply collaboration renewed this year, in which UEI supplies the voice remote as part of Comcast’s X1 Entertainment Operating System, said UEI. Comcast can acquire shares of UEI stock tied to the potential fulfillment of undisclosed, pre-defined purchase milestones. The agreement positions UEI to provide “innovative products” across Xfinity Home, said UEI CEO Paul Arling.