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Sony, Philips Buy InterTrust

11/13/2002 02:06:00 PM Eastern

New York - Sony and Philips teamed up today to purchase InterTrust, a maker of hardware and software to enable the secure transfer of digital content.

The deal has Fidelio Acquisition, an arm of Sony, and Philips paying $435 million to acquire all of InterTrust's outstanding stock. InterTrust holds 26 U.S. patents and has an additional 85 patents pending on digital rights management products. These cover web services, digital media platforms and enterprise infrastructure.

Philips' CEO Gerard Kleisterlee said the deal will give his company wider access to InterTrust's data that will allow consumers and content providers to securely access and distribute content with their preferred devices. Sony executives added the growth of CE, computer and entertainment industries will be heavily influenced by the ability to transmit digital content in a secure environment and this deal will help Sony accomplish this goal.

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