LES awarded Deals of Distinction™ in five industry sectors at the LES Annual Meeting Business Luncheon on October 20, 2025. The sectors included: High-Tech, Brands as a Business, Industry-University-Government Interface, Life Sciences, and Physical Sciences. Now in its twenty-first year, the annual program recognizes companies that orchestrate the year’s most outstanding licensing and business deals in each sector. Key dealmakers were on hand to provide insights on their winning deals.

Dealmakers: SIM IP and Ultraleap’s XR/Haptics IP Assets

Presented by Kevin Kercher, LES Chair, High Tech Sector, to Erich Spangenberg of SIM IP

Why it won…
SIM IP, led by Erich Spangenberg, entered into a definitive agreement to acquire Ultraleap’s extensive haptics and extended reality (XR) patent portfolio as part of a new strategic licensing partnership.

The transaction marks a significant development in the XR and immersive technology sector, consolidating one of the industry’s most influential intellectual property portfolios. Ultraleap—formed through the 2019 merger of U.S.-based Leap Motion and UK-based Ultrahaptics—has been recognized as a pioneer in mid-air haptics, contactless interfaces, and advanced hand-tracking technologies. The company attracted hundreds of millions of dollars in investment from major backers, including Tencent and Mayfair Capital.

With this acquisition, SIM IP continues to expand its influence in next-generation interface technologies, positioning itself at the forefront of innovation and IP value creation in the rapidly evolving XR market.

What Made the Deal Award-Worthy
1. Strategic Licensing Innovation

  • SIM IP structured a long-term partnership with Ultraleap, acquiring rights to a high-value patent portfolio while allowing Ultraleap to continue advancing its product roadmap.
  • The agreement effectively separated monetization from innovation, enabling each party to focus on its strengths—Ultraleap on research and product development, SIM IP on licensing and enforcement.

2. Market Impact

  • The Ultraleap portfolio stems from the pioneering work of Leap Motion and Ultrahaptics, two startups backed by major global investors, including Tencent and Mayfair Equity Partners.
  • The patents had previously attracted nine-figure acquisition interest, underscoring their commercial importance in XR and haptics markets.

3. Creative Deal Structure

  • The transaction introduced a novel licensing framework, which LES praised for addressing business challenges “in a non-traditional and creative way.”
  • The structure demonstrates how intellectual property can be leveraged to unlock value without disrupting ongoing innovation.

4. Leadership and Execution

  • Erich Spangenberg’s career includes more than $700 million in IP licensing transactions and over $1.5 billion in IP-related financing.
  • His ability to navigate complex IP ecosystems and close high-stakes agreements made this deal a benchmark for strategic licensing in emerging technologies.

LES Deal of Distinction Criteria
The Licensing Executives Society’s Deal of Distinction Award recognizes agreements that:

  • Solve business problems creatively
  • Feature novel licensing structures
  • Represent “seismic events” within their industry sector

Spangenberg and SIM IP’s acquisition of Ultraleap’s XR and haptics IP portfolio checked all three boxes in the High Technology Sector, cementing its status as one of the year’s most notable achievements in strategic IP licensing.

View more on the deal here. View more on Ultraleap here.

Kevin Kercher, LES High Tech Sector Chair (right), awards Deal of Distinction to Erich Spangenberg, SIM IP.

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