QUARTERHILL INC - QTRHF STOCK NEWS

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) has successfully completed its acquisition of Electronic Transaction Consultants, LLC (ETC), a key player in the Intelligent Transportation Systems (ITS) sector. This acquisition, valued at $150 million, is expected to enhance Quarterhill's position in the U.S. tolling market, with projected annualized revenue contributions of $95-$120 million and Adjusted EBITDA of $12.5-$15 million within 12-18 months. The deal is financed through $75 million in cash and $75 million in syndicated debt, with potential revenue synergies between ETC and Quarterhill's existing business operations.

International Road Dynamics (IRD), a subsidiary of Quarterhill (TSX: QTRH; OTCQX: QTRHF), announced a CAD $4.1 million contract with the Illinois Department of Transportation for maintaining the statewide Weigh-in-Motion (WIM) network. This agreement spans four years with a potential six-year renewal. IRD will support essential systems including in-road scales and roadside electronics, enhancing the efficiency of weigh stations. This contract expands IRD's recurring revenue stream and signifies their leadership in traffic data collection technology.

International Road Dynamics (IRD), a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), has secured a contract with the Oklahoma Department of Transportation (ODOT) for the installation of a new Electronic Screening System (ESS) at the Bryan County Northbound Port-of-Entry Weigh Station. This system, incorporating advanced Weigh-In-Motion technology and a five-year maintenance agreement, aims to enhance vehicle screening efficiency and road safety. The project is set to commence in Q2 2022, building on prior deployments of IRD's systems in Oklahoma.

Quarterhill Inc. (TSX: QTRH; OTCQX: QTRHF) has announced a definitive agreement to acquire Electronic Transaction Consultants, LLC (ETC) for $150 million. This acquisition will strengthen Quarterhill's position in the Intelligent Transportation Systems (ITS) industry, particularly in tolling, expected to benefit from a favorable environment due to increased government infrastructure spending. ETC processes over two billion transactions annually and is projected to generate $95-120 million in revenue within 12-18 months. The deal is set to close in September 2021, contingent upon customary conditions.

Quarterhill Inc. (TSX: QTRH) reported Q2 2021 revenues of $18.9 million, up from $16.8 million in Q2 2020. Adjusted EBITDA was (3.0) million, compared to (2.0) million a year earlier. The company has a robust cash position with $122.7 million in cash and equivalents. Significant progress was made on its M&A strategy with the acquisition of VDS GmbH, enhancing revenue opportunities. The Board declared a $0.0125 dividend payable on October 8, 2021.

Wi-LAN Inc., a subsidiary of Quarterhill, has signed a license agreement with an unnamed company in the automotive industry regarding wireless technology patents. The agreement includes confidential licensing fees and other terms. Wi-LAN specializes in patent monetization across various sectors including automotive and wireless communications. Quarterhill aims to grow in the Intelligent Transportation System (ITS) space and is listed on both TSX and OTCQX under symbols QTRH and QTRHF respectively.

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) announced that CEO Paul Hill and CFO John Rim will present at the Canaccord Genuity 41st Annual Growth Conference on August 12, 2021, at 1:00 p.m. EDT. The presentation will be conducted virtually, and interested parties can access an audio webcast here. To schedule a one-on-one meeting, attendees are encouraged to contact their Canaccord Genuity representative.

Quarterhill focuses on the Intelligent Transportation System (ITS) industry and aims to leverage growth opportunities in this sector.

On August 3, 2021, Wi-LAN Inc., a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), announced the acquisition of semiconductor process, packaging, and circuit technology patents from a prominent market leader. This acquisition aims to enhance their intellectual property portfolio in areas relevant to data centers, mobile, and personal devices. Additional details of the transaction remain confidential. This move follows an earlier acquisition of non-volatile memory patents in 2014, indicating a strategic focus on expanding their technology capabilities.

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) will release its financial results for Q2 2021 on August 5, 2021. The announcement covers the three- and six-month periods ending June 30, 2021. Paul Hill, President and CEO, alongside CFO John Rim, will lead a conference call and audio webcast at 10:00 a.m. EDT on the same day. Details for the live webcast and dial-in options have been provided, along with information on replay access. Quarterhill aims for growth in the Intelligent Transportation System (ITS) sector and is focused on capitalizing on attractive opportunities within the industry.