WiLAN Acquires Irrigation Technology Patents and Revenue Stream
April 16 2014 - 10:30AM
Marketwired
WiLAN Acquires Irrigation Technology Patents and Revenue Stream
OTTAWA, CANADA--(Marketwired - Apr 16, 2014) - Wi-LAN Inc.
("WiLAN" or the "Company") (TSX:WIN) (NASDAQ:WILN) today announced
that a subsidiary has entered into a partnership agreement with the
inventors of patented technologies that relate to the operation of
irrigation control systems.
Under the terms of the agreement, WiLAN has assumed
responsibility for licensing a patent portfolio with demonstrated
market value. The portfolio has already been licensed and pursuant
to the partnership agreement, WiLAN will receive the future revenue
stream generated by all existing running royalty agreements. WiLAN
will share, with the vendor, future revenues generated by new
licenses to the portfolio. The Company did not pay any money up
front for rights to the portfolio. Revenues from this agreement are
expected to begin contributing to WiLAN's revenue stream in the
second quarter of 2014.
"This partnership is one example of the many patent portfolios
in diverse markets that are being offered to WiLAN by inventors and
companies seeking the right partner to license their inventions,"
said Jim Skippen, President & CEO. "With a solid licensing
track record, including over 280 companies licensed and an
estimated three quarters of a billion dollars in bookings generated
to date, WiLAN is the right licensing partner for many patent
owners."
About WiLAN
WiLAN, founded in 1992, is a leading technology innovation and
licensing company. WiLAN has licensed its intellectual property to
over 280 companies worldwide. Inventions in our portfolio have been
licensed by companies that manufacture or sell a wide range of
communication and consumer electronics products including 3G and 4G
handsets, Wi-Fi-enabled laptops, Wi-Fi and broadband routers, xDSL
infrastructure equipment, cellular base stations and digital TV
receivers. WiLAN has a large and growing portfolio of more than
4,000 issued or pending patents. For more information:
www.wilan.com.
Forward-looking Information
This news release contains forward-looking statements and
forward-looking information within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and other United States
and Canadian securities laws. The phrases "will receive", "will
share", "generated by", "are expected to begin", "to license" and
similar terms and phrases are intended to identify these
forward-looking statements. Forward-looking statements and
forward-looking information are based on estimates and assumptions
made by WiLAN in light of its experience and its perception of
historical trends, current conditions and expected future
developments, as well as other factors that WiLAN believes are
appropriate in the circumstances. Many factors could cause WiLAN's
actual performance or achievements to differ materially from those
expressed or implied by the forward-looking statements or
forward-looking information. Such factors include, without
limitation, the risks described in WiLAN's February 3, 2014 annual
information form for the year ended December 31, 2013 (the "AIF").
Copies of the AIF may be obtained at www.sedar.com or www.sec.gov.
WiLAN recommends that readers review and consider all of these risk
factors and notes that readers should not place undue reliance on
any of WiLAN's forward-looking statements. WiLAN has no intention
and undertakes no obligation to update or revise any
forward-looking statements or forward-looking information, whether
as a result of new information, future events or otherwise, except
as required by law.
All trademarks and brands mentioned in this release are the
property of their respective owners.
Tyler BurnsDirector, Investor RelationsO: 613-688-4330C:
613-697-0367tburns@wilan.comwww.wilan.com
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