WiLAN and Apple Sign License Agreement

Rhea-AI Summary

Quarterhill's subsidiary, WiLAN, has announced a new patent licensing agreement with Apple, settling all ongoing litigation across the U.S., Canada, and Germany. The specific terms of this agreement are confidential. WiLAN is recognized as a leading patent monetization company, focusing on various tech sectors, including automotive and wireless communication. Quarterhill aims for global leadership in Intelligent Transportation Systems (ITS) and actively pursues growth through acquisitions and organic expansion.

Positive

• Settlement of all litigation with Apple enhances business stability.
• Confidential licensing agreement could lead to significant revenue streams.

Negative

• None.

Parties Settle All Pending Litigations

OTTAWA, ON, March 22, 2022 /PRNewswire/ - Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF) subsidiary Wi–LAN Inc. ("WiLAN") and WiLAN's subsidiary Polaris Innovations Limited ("Polaris") today announced a new patent license agreement (the "Agreement") with Apple Inc. ("Apple").

The Agreement also includes the settlement and dismissal of all litigation pending between WiLAN and Polaris and Apple in the United States, Canada and Germany.

The specific consideration payable under the Agreement and all other terms and conditions are confidential.

About WiLAN
WiLAN, a Quarterhill company, is one of the most successful patent monetization companies in the world and partners with its customers to unlock the value of intellectual property through various patent monetization models.  WiLAN operates in a variety of markets including automotive, digital television, Internet, medical, semiconductor and wireless communication technologies.  For more information:  www.wilan.com.

About Quarterhill
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry, as well as, through its Wi-LAN Inc. subsidiary, a leader in Intellectual Property licensing. Our goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants, LLC (ETC) and International Road Dynamics, Inc. (IRD) platforms, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com 

All trademarks and brands mentioned in this release are the property of their respective owners.

View original content:https://www.prnewswire.com/news-releases/wilan-and-apple-sign-license-agreement-301507357.html

SOURCE Quarterhill Inc.

FAQ

What is the significance of the licensing agreement between WiLAN and Apple?

The licensing agreement signifies the resolution of all litigation and opens potential revenue channels for WiLAN.

What were the terms of the new agreement between WiLAN and Apple?

The specific terms of the agreement are confidential, preventing disclosure of the financial implications.

How does the settlement affect Quarterhill's stock performance?

The settlement is expected to positively influence stock performance by reducing legal uncertainties and stabilizing business operations.

When was the licensing agreement between WiLAN and Apple announced?

The agreement was announced on March 22, 2022.

What is the stock symbol for Quarterhill?

Quarterhill trades under the symbols QTRH on TSX and QTRHF on OTCQX.