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Immersion Shares Soar on Sony Settlement

Forbes.com is reporting Shares of Immersion Corp. soared on Friday after the hardware and software developer and Sony Corp. said they ended their long-standing litigation and signed a deal to work together to explore use of the technology in dispute in PlayStation products.

Immersion, which develops technology that adds tactile feeling to video game controllers, steering wheels and even medical instruments, will receive $97.2 million from Sony (nyse: SNE - news - people ) in damages and interest as part of the deal.

The San Jose, Calif., company's shares jumped $1.41, or 19 percent, to $8.63 in midday trading on the Nasdaq Stock Exchange. Earlier in the session, the stock ballooned 37 percent to hit $9.90, its highest since 2004.

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kornbeaner3709d ago

that sony will visit the last generation this generation and put feedback in their controllers!!!!

Hmmmm.....Hmmmmmm.....Hmmmmmm m....

HYPOCRITES!!!!!!

It's a good thing if it happens some games just need it.

Maddens Raiders3709d ago (Edited 3709d ago )

"soaring" because SCEI is staging to equip all rumble-axis controllers with Immersion's technology. Some would call it - money the bank. =]

Bathyj3709d ago

I'd just like to point out that everyone has done nothing but knock Sony over the this whole lack of rumble thing, when meanwhile this tiny company which has never posted a profit since it opened, and who we would never of even heard of has been suing them for unreasonable amount of money, virtually holding Sony to ransom. Their choice apparently was to pay roughly $100 million, more money than this company could ever make or for go the rumble. We all know they took the cheap option and look how they paid for it in consumer backlash. Many silly and untrue excuses (cant work with motion, last gen tech,)were offered purely as damage control so now that they're doing the right thing (as far as what there customers want) everones now calling them hypocrites. Seems they cant win at the moment but I guess in a years time all of this will have blown overlike everything always does.

Now that they've made up Immersion not only have more cash then they were ever likely to see, but the company itself in now work more than it ever would have been. Immersion owe Sony alot. It was them that made rumble a standard to start with. Yes I'm aware the N64 had a rumble plug in. It sucked. Dual shock gave rumble in stereo and build it in with 2 analouge sticks, vitually forming the blueprint for years to come and be copied by XB and PC controllers. This became the standard from then on.

Of course all of this means nothing to the man on the street, I just hope people appreciate the high price Sony has paid just so we can feel a little buzz in our hands when we run our cars into a wall and maybe if we're still going to whine about lack of rumble, til new controllers come out, acknoledge the part Immersion played in all this.

3708d ago