Xperi Taps Former Tessera Counsel as CEO of IP Licensing Spinoff

Xperi announced Paul Davis as CEO of Adeia, its intellectual property business that's due to be spun off as a stand-alone company this fall. In the interim, Davis will serve as Adeia president and continue in his role as Xperi chief legal officer, said the company Wednesday. Adeia will have 10,000 patent assets when it branches off on its own this fall, said Xperi CEO Jon Kirchner on an earnings call this month (see 2205100026). Xperi's product business, meanwhile, will focus on advanced infotainment and in-cabin safety products in cars along with its IPTV business. On Wednesday Kirchner praised Davis’ “deep knowledge of the IP licensing business,” including his role as general counsel of Tessera Technologies, the predecessor to Xperi before the company bought DTS in 2016.