Universal Electronics Signs Warrants Agreement with Comcast
SANTA ANA, CA —March 9, 2016 — Universal Electronics Inc. (UEI) (NASDAQ:UEIC) today announced it has entered into a warrants agreement with Comcast Corporation as an extension of its partnership in developing advanced technology products with Comcast Cable Communications Management, LLC.
The agreement 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®. In anticipation of continued sales growth, Comcast now has the opportunity to acquire shares of capital stock from UEI tied to the potential fulfillment of pre-defined purchase milestones under the terms of the warrants agreement.
“This agreement represents a major milestone in our history,” said Paul Arling, Chairman and Chief Executive Officer of Universal Electronics. “We are privileged to have helped Comcast’s X1 redefine the entertainment viewing experience, and we are now positioned to provide innovative products across XFINITY Home as well.”
About Universal Electronics
Universal Electronics Inc. (NASDAQ:UEIC), the worldwide leader in universal control and sensing technologies for the smart home. For more information, please visit www.uei.com/about.
