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  Tiny firm scores with Xbox 'haptics' technology
Time: 09:20 EST/14:20 GMT | News Source: E-Mail | Posted By: Brian Kvalheim

Settling a David-and-Goliath legal battle, tiny Immersion Corp on July 28 said software giant Microsoft will pay US$26 (NZ$44.3) million to license technology that brings a more realistic touch to the Xbox video-game system. The agreement represents a coup for Immersion, a San Jose-based company with just US$20 (NZ$34) million in revenue after a decade in business. Microsoft's payment includes US$6 (NZ$10.2) million earmarked for a roughly 10 percent stake in Immersion. Immersion also has a 48-month option to require Redmond, Washington-based Microsoft to buy US$9 (NZ$15.3) million of convertible debt.
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