Spinoff of Xperi’s IP Licensing Business Wins Formal Board OK

Xperi’s board formally approved the previously announced separation of its product and intellectual property licensing businesses into two independent publicly traded companies, said the company Monday. Xperi filed a Form 10 registration statement Friday with the SEC on the planned separation of the product business, it said. When the separation is complete, Xperi will begin trading on the New York Stock Exchange under the symbol XPER, and the IP business, which was named Adeia, will trade on the Nasdaq under the symbol ADEA, it said. The separation is subject to customary conditions, including the final approval and effectiveness of the Form 10 registration statement, said the company. Xperi plans to livestream an investor day event Sept. 20 at 8:30 a.m. EDT "in anticipation" of the separation, said the company Monday. "Presentations for each business will be given separately, followed by live Q&A sessions," it said.