Fujitsu to license entire Wi-LAN patent portfolio
TORONTO, July 25 (Reuters) - Canada's Wi-LAN Inc. (WIN.TO: Quote, Profile, Research) said on Wednesday it has signed a preliminary deal under which Fujitsu Ltd. (6702.T: Quote, Profile, Research) could license its entire patent portfolio.
Wi-LAN, which licenses patents for telecom products, said the two companies are working to sign a formal agreement and that the preliminary deal calls for Fujitsu to pay cash as well as to transfer some of its own patents to Wi-LAN. It didn't give financial details.
"We are pleased that Fujitsu and Wi-LAN have reached an agreement for a license to our entire portfolio," Wi-LAN chief executive Jim Skippen said in a statement. "We are also pleased that we have been able to secure valuable patents as part of the consideration for the license."
Wi-LAN shares were halted before the announcement. They last changed hands at C$4.31 on the Toronto Stock Exchange. They hit a year high of C$7.97 in late February and a year low of C$1.10 late last August.
($1=$1.04 Canadian)
