QUARTERHILL INC - QTRHF STOCK NEWS

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) announced a contract with the Alameda County Transportation Commission for Electronic Transaction Consultants (ETC) to implement an interim electronic toll collection system on the I-680 Express Lanes in California. Valued at approximately US$4 million, the two-year contract aims to quickly enable revenue service. ETC will utilize its riteSuite™ technology, which includes advanced analytics and AI-based systems, to enhance traffic flow and generate revenue for mobility initiatives.

The United States Court of Appeals for the Federal Circuit (CAFC) ruled favorably for Wi-LAN Inc., a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), regarding its patent infringement case against Apple. The CAFC confirmed that Apple infringes Wi-LAN's patents and is liable for damages. Additionally, the CAFC reversed a District Court's ruling that excluded Intel-based Apple products from damages calculations, allowing for their inclusion. The case has been remanded for a new trial to determine the amount of damages owed by Apple.

Quarterhill announced that the Orange County Transportation Authority awarded WSP USA a contract for the I-405 Express Lanes project, with Electronic Transaction Consultants (ETC), a subsidiary of Quarterhill, as a major subcontractor. Valued at US$49.3 million for an initial term of up to nine years, the contract includes options to extend. ETC will implement a comprehensive Back Office System to enhance customer service and streamline operations for the express lanes. The project aims to improve tolling management and customer interactions, with completion expected in 2023.

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.