Parties Settle Wireless Patent Litigation
OTTAWA, Nov. 25, 2019 /PRNewswire/ - Wi-LAN Inc. ("WiLAN"), a Quarterhill Inc. ("Quarterhill") company (TSX: QTRH) (NASDAQ: QTRH), today announced that WiLAN has entered into a license agreement and settled all pending wireless patent litigation with LG Electronics ("LG"). Subject to the license agreement, LG has obtained a multi-year license to certain WiLAN patents related to wireless technology. This is the second license LG has taken to WiLAN's wireless patent portfolio; the first license LG received from WiLAN was concluded in 2010. The license fees paid to WiLAN and all other terms of this agreement are confidential.
As a result of this agreement, civil action 3:18-cv-01577 in the Southern District of California, case T-1349-17 in the Federal Courts of Canada and case 7 O 152/17 in the Manheim Court in Germany all will be dismissed. Civil action 2:13-cv-04895 in the District Court of New Jersey, relating to imaging technologies and television products, is not impacted by this agreement.
"We are very pleased to have reached a resolution with LG with respect to our wireless technology patents," said Michael Vladescu, President and CEO of WiLAN. "We believe this license demonstrates the continued strength and relevance of WiLAN's wireless portfolio and, in particular, its relevance to LTE technology used in mobile devices. WiLAN's wireless patents have been licensed to numerous other mobile device vendors."
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Quarterhill is focused on the disciplined acquisition, management and growth of companies in dedicated technology areas including, vertical market software and solutions, intelligent industrial systems, and innovation and licensing. Quarterhill's emphasis is on seeking out acquisition opportunities at reasonable valuations that provide a foundation for recurring revenues, predictable cash flows and margins, profitable growth, intimate customer relationships and dedicated management teams. Quarterhill is listed on the TSX and NASDAQ under the symbol QTRH. For more information: www.quarterhill.com.
Forward-looking Information
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