Universal Electronics Inks Cooperation Agreement with Immersion Corporation
December 27, 2023 | BUSINESS WIREEstimated reading time: 1 minute
Universal Electronics Inc., the global leader in wireless universal control solutions for home entertainment and smart home devices, today announced that it has entered into a cooperation agreement with Immersion Corporation and certain of its affiliates.
Under the terms of the Agreement, the Company’s board of directors has appointed Eric Singer, President, Chief Executive Officer and Chairman of Immersion, as a new independent director, to serve as a Class II director, filling an existing vacancy on the Board. In addition, the Board appointed Mr. Singer to the Board’s Compensation Committee and will nominate Mr. Singer for election to the Board at the Company’s 2024 annual meeting of stockholders.
Additionally, under the terms of the Agreement, Immersion has the right to identify one additional member for appointment to the Board effective immediately following the Company’s 2025 annual meeting of stockholders, subject to certain conditions, including, among other things, Immersion’s continued ownership of a specified minimum number of shares of the Company’s common stock and the additional director satisfying the Company’s and Nasdaq’s independence standards. During the term of the Agreement, Immersion has agreed to customary standstill provisions and voting commitments.
The Agreement is the latest step that the Company has taken to demonstrate its commitment to maintaining strong corporate governance and enhancing value for all stockholders. Earlier this year, the Board elected William Mulligan as Lead Independent Director of the Board.
“We are pleased to have reached this amicable agreement with Immersion,” said Paul D. Arling, the Company’s Chairman of the Board and Chief Executive Officer. “Eric has significant public company experience as a director and is a welcomed addition to our Board as we work towards a common goal of increasing the Company’s profitability, accelerating its long-term growth and maximizing stockholder value. The Company looks forward to leveraging Eric’s expertise as we continue to position the Company for value creation.”
“Immersion appreciates the engagement we have had with the Board and management team of UEI over the last several months,” said Mr. Singer. “I am excited to join the Board at such a pivotal time. I look forward to working with the Board to help UEI meet its full potential and maximize value for all stockholders.”
Suggested Items
Has the Time Finally Come for Tin-nickel Plating?
12/09/2024 | Marcy LaRont, PCB007 MagazineIn the 1980s, Electrochemicals, Inc. (now Electrochemical Products) made a significant shift from furniture and industrial goods to electronics and manufacturing. During this journey, a tin-nickel plating alloy was developed. In 1984, Mike Carano, a young engineer, published a paper on tin-nickel plating alloy, but after some initial attention, the plating solution fell into obscurity. Today, PCB fabrication looks largely the same, yet changes are afoot, chiefly due to the demands for very fine feature capability on printed circuit boards, as well as environmental sustainability. So, in this fascinating conversation with Mike Carano and Happy Holden, we take another look at tin-nickel and its advantages in both performance and sustainability.
Flex PCB Design Best Practices with Dave Lackey
12/04/2024 | Brittany Martin, I-Connect007David Lackey, a flex circuit expert at American Standard Circuits, speaks about the advantages and challenges of designing with flexible and rigid-flex PCBs. He also discusses how consulting before the design phase can save time and costs by avoiding manufacturing issues and highlights the reliability and packaging benefits of flex technology, especially for compact designs in sectors like aerospace.
Connect the Dots: Designing for Reality: Strip-Etch-Strip
12/05/2024 | Matt Stevenson -- Column: Connect the DotsIn the previous episode of I-Connect007’s On the Line with… podcast, we focused on pattern plating. At this point, we are close to completing our boards and ready for the strip-etch-strip (SES) process. By this stage of the manufacturing process, we have laminated all the internal layers together, drilled the through-holes, applied the image to the external layers through photoresist, plated the copper in those channels to beef up the copper thickness for traces, pads, and through-holes, added a layer of electrolytic tin over the top of that copper to protect it during subsequent stages of production.
Accurate Circuit Engineering on Passion and Pushing the Envelope
12/03/2024 | Andy Shaughnessy, Design007 MagazineIn this interview at PCB Carolina in November, James Hofer, general manager of Accurate Circuit Engineering (ACE), shares insights into the company’s innovative approach to component embedding and highlights the passion and dedication driving his team’s commitment to quality and innovation in PCB manufacturing. James is still having fun as they push boundaries and do some pretty cool things in the process.
Nolan’s Notes: Soldering Technologies
12/03/2024 | Nolan Johnson -- Column: Nolan's NotesThere are schools of thought that soldering methods are similarly anachronistic but still useful enough not to be worth changing. While that may be true, I see that soldering technologies are experiencing significant changes. It might not be apparent on the surface, but changes are afoot, and there are some disruptive things underway as well.