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Quarterhill Inc. focuses on the acquisition and management of technology companies that provide products and services globally. Their technology licensing segment includes patents related to various technologies such as 3D television, semiconductor manufacturing, medical stent, LED lighting, and more. The company's intelligent systems segment offers integrated systems and solutions for automated truck weigh stations, toll road systems, traffic management, and vehicle information systems. Quarterhill aims for global leadership in the Intelligent Transportation System industry through organic growth and strategic acquisitions.
Quarterhill Inc. has announced the departure of CFO John Rim to pursue other interests, with Stephen Thompson appointed as interim CFO. Thompson, who previously held the CFO role from April to December 2017, has extensive public company experience and is a Chartered Professional Accountant. The Board is actively searching for a permanent CFO. CEO Bret Kidd expressed gratitude for Rim's contributions and highlighted the company's strengthened fundamentals as it transitions into the Intelligent Transportation Systems (ITS) sector, focusing on growth and acquisitions.
Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) will participate in two virtual investor conferences in January 2022. The first is the ATB 10th Annual Institutional Investor Conference on January 11 at 9:30am ET, featuring CEO Bret Kidd and CFO John Rim in a fireside chat. The second is the 24th Annual Needham Growth Conference on January 13 at 8:30am ET, where both executives will deliver a standard presentation. Webcasts for both events are available online for interested investors.
OTTAWA, ON, Dec. 31, 2021 /PRNewswire/ - Wi-LAN Inc. (a Quarterhill company) announced that its subsidiary, Polaris Innovations Limited, has signed a license agreement with Marvell Technology Inc. for certain patents related to memory interface technologies. The specific terms of the agreement, including the consideration payable to Polaris, remain confidential. Wi-LAN is recognized as a leader in patent monetization across various technology sectors, including automotive and wireless communications.
Quarterhill Inc. announced the appointment of Kevin Holbert as CEO of Electronic Transaction Consultants Corporation (ETC) effective December 20, 2021. Holbert has been with the company since 2002, previously serving as Chief Commercial Officer. His leadership is expected to steer ETC towards continued growth in the Intelligent Transportation Systems and smart mobility sectors. Holbert's extensive experience is viewed as a strategic asset for ETC's future. This change follows the appointment of Bret Kidd as CEO of Quarterhill on December 15, 2021.
Quarterhill's subsidiary, ETC, has secured a six-year contract valued at US$72.79 million with the Central Texas Regional Mobility Authority (CTRMA). The contract involves implementing advanced electronic toll collection systems and maintenance services in Austin, Texas. ETC will enhance traffic management through its riteSuite™ technology, which includes sophisticated data analytics and machine learning capabilities. The contract may extend for two additional two-year terms, indicating a long-term partnership aimed at improving mobility in Central Texas.
Quarterhill Inc. (QTRHF) has announced the immediate promotion of Bret Kidd, CEO of Electronic Transaction Consultants (ETC), to CEO of Quarterhill, replacing Paul Hill. The company is shifting its operations to focus on the Intelligent Transportation Systems (ITS) market, projected to grow from $45B in 2020 to $90B by 2025. Quarterhill plans to conduct a strategic review of its subsidiary WiLAN, exploring potential changes to its structure and operations. The transition aims to enhance its growth strategy within the ITS sector.
International Road Dynamics Inc. has appointed Heimo Haub as Managing Director for IRD Europe, effective January 10, 2022. This new division will integrate operations from the Belgian subsidiary ICOMS Detections and recent German acquisitions Sensor Line and VDS. Mr. Haub brings over 15 years of experience in the Intelligent Transportation Systems (ITS) sector, and his leadership aims to enhance customer service and drive growth in Europe. The consolidation is seen as a strategic move to strengthen IRD's presence in the European market while improving road safety and sustainability.
Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) announced participation in the Raymond James Technology Investors Conference from December 6-8, 2021. CEO Paul Hill and CFO John Rim will represent the company in a virtual format. Interested parties can schedule one-on-one meetings through their Raymond James representatives. Quarterhill focuses on growth in the Intelligent Transportation System (ITS) sector and leads in Intellectual Property licensing via its subsidiary, Wi-LAN Inc. More information is available at www.quarterhill.com.
On November 23, 2021, Wi-LAN Inc., a subsidiary of Quarterhill Inc. (TSX: QTRH; OTCQX: QTRHF), announced the acquisition of a patent portfolio from a leading publicly-traded semiconductor technology company. The patents pertain to wired connectivity, focusing on various USB-C technologies applicable in desktop computers, laptops, tablets, mobile phones, gaming consoles, and smart TVs. Specific terms of the transaction remain confidential, indicating a strategic move to enhance Wi-LAN's intellectual property assets in high-demand tech sectors.
Quarterhill Inc. (QTRHF) reported Q3 2021 revenues of $36.3 million, down from $88.0 million in Q3 2020. Adjusted EBITDA for Q3 2021 was $7.6 million, a decline from $39.0 million in the prior year. The company completed the acquisition of Electronic Transaction Consultants (ETC) and has a working capital of $60.0 million as of September 30, 2021. Cash and equivalents stood at $37.0 million, down from $141.3 million at the end of 2020. The Board declared a quarterly dividend of $0.0125 per share payable January 10, 2022.
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