WILMINGTON, Del. - InterDigital , Inc. (NASDAQ:IDCC), a company specializing in mobile, video, and AI technology research and development, has announced the appointment of Ken Kaskoun as its new Chief Growth Officer. Kaskoun, an engineer and lawyer, brings a wealth of experience from his previous role as Senior Vice President of Strategy and Business Development at SomaLogic, a life sciences company.
Liren Chen, President and CEO of InterDigital, expressed confidence in Kaskoun's ability to contribute to the company's expansion, citing his background in developing long-term growth strategies for technology research and licensing companies. Kaskoun's appointment is part of InterDigital's broader strategy to leverage its strong financial performance and licensing momentum to drive growth, especially in areas such as video and cloud services.
Kaskoun's career also includes a 15-year tenure at Qualcomm (NASDAQ:QCOM), where he served in various intellectual property-related roles, culminating as Vice President of the Strategy and Analysis team in Qualcomm Technology Licensing (QTL). He holds a BSEE from Old Dominion University, a JD (NASDAQ:JD) from the University of San Diego, and is a member of the State Bar of California. Kaskoun is credited as the inventor on more than 30 granted patents and pending applications.
InterDigital, founded in 1972 and listed on NASDAQ, is recognized for its contributions to wireless technology, including innovations used in products and networks ranging from early digital cellular systems to the latest 5G and Wi-Fi technologies. The company is also noted for its work in video processing, encoding/decoding, and significant AI research efforts that intersect with both wireless and video technologies.
This announcement is based on a press release statement.
InvestingPro Insights
With the appointment of Ken Kaskoun as Chief Growth Officer, InterDigital, Inc. (NASDAQ:IDCC) aims to bolster its growth trajectory. The company's recent performance metrics from InvestingPro offer insights into its financial health and market position. InterDigital holds a market capitalization of approximately $2.69 billion and has shown a commendable gross profit margin of 85.8% over the last twelve months as of Q3 2023. This high margin is a testament to the company's efficiency and its potential to sustain profitability as it explores new growth avenues.
InvestingPro Tips indicate that InterDigital's management has been proactively buying back shares, a sign of confidence in the company's value. Additionally, the company has been maintaining a strong balance sheet with more cash than debt, which is crucial for its strategic growth initiatives. With Kaskoun's expertise, InterDigital is well-positioned to leverage its financial stability and strong shareholder yield, as reflected in its impressive return of 46.17% over the past year.
For those interested in a deeper dive into InterDigital's market potential and strategic direction, InvestingPro offers additional insights, including 11 more InvestingPro Tips that could be valuable for making informed investment decisions. To explore these further, be sure to visit https://www.investing.com/pro/IDCC and use the exclusive coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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