Press release from Marketwire
WiLAN Acquires Automotive Portfolio and Provides More Information on Carrier License
Thursday, April 10, 2014
WiLAN Acquires Automotive Portfolio and Provides More Information on Carrier License
06:30 EDT Thursday, April 10, 2014
OTTAWA, CANADA--(Marketwired - April 10, 2014) - Wi-LAN Inc. ("WiLAN" or the "Company") (TSX:WIN)(NASDAQ:WILN) today announced that a subsidiary has acquired a patent portfolio that relates to automotive diagnostic technology. Although the terms of the agreement are confidential, WiLAN can confirm that it does not consider the purchase amount to be material relative to its current cash position.
"This acquisition, our second in the automotive market, strengthens our footprint in this market," said Jim Skippen, President & CEO. "The portfolio is an example of the broad range of technologies that are coming to WiLAN from many patent owners who are actively seeking WiLAN's assistance in monetizing their inventions through licensing partnerships or outright acquisition by WiLAN."
On April 2, 2014, WiLAN issued a press release announcing that a subsidiary of the Company had entered into a license agreement with a wireless carrier in the United States for patents related to wireless network management. WiLAN was restricted from revealing the name of the wireless carrier or the amount paid to WiLAN under the license. WiLAN confirms that this license is part of an exciting new licensing program launched by WiLAN in 2013. The key patents being licensed relate to security techniques used in wireless networks throughout the world. These patents are a subset of the global portfolio of patents and applications that WiLAN acquired from Siemens AG related to telecommunication network management and mobile multimedia in July 2012.
