WiLAN and Subsidiary Sign License with LG

Rhea-AI Summary

Wi-LAN Inc., a subsidiary of Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF), has settled litigation with LG Electronics regarding TV and display technologies. The agreement involves a license covering memory interface and digital display technologies. While specific license fees and terms remain confidential, CEO Michael Vladescu expressed satisfaction with the settlement, indicating ongoing interest from companies in WiLAN's patent portfolios, particularly in Polaris and TV technologies.

Positive

• Settlement of litigation with LG Electronics signals successful patent licensing.
• Confidential license agreement suggests potential revenue from LG.

Negative

• None.

Parties Settle Litigation

OTTAWA, ON, March 1, 2021 /PRNewswire/ - Wi-LAN Inc. ("WiLAN"), a Quarterhill Inc. ("Quarterhill") company (TSX: QTRH) (OTCQX: QTRHF), today announced that WiLAN and its wholly-owned subsidiary Polaris Innovations Ltd. ("Polaris") have entered into a license agreement and settled litigation relating to TV and display technologies with LG Electronics ("LG"). The licensed patents are related to memory interface technologies and digital display and TV technologies. The license fees payable by LG and all other terms and conditions of this agreement are confidential.

"We are pleased to have settled the litigation with LG and granted LG licenses to various WiLAN portfolios," said Michael Vladescu, President and CEO of WiLAN. "We continue to see companies wanting to take licenses to our Polaris and TV patent portfolios."

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 growth-oriented company in the Intelligent Transportation System (ITS) industry as well as a leader in Intellectual Property licensing. Our goal is to execute an investment strategy that capitalizes on attractive growth opportunities within ITS - and its adjacent markets - to become a global leader in that industry. 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.

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SOURCE Wi-LAN Inc.

FAQ

What recent legal settlement was announced by Quarterhill regarding QTRHF?

Quarterhill's subsidiary Wi-LAN announced a settlement of litigation with LG Electronics on March 1, 2021, related to TV and display technologies.

What technologies are involved in the Wi-LAN and LG Electronics settlement?

The settlement involves licensing for memory interface technologies and digital display and TV technologies.

How does the settlement with LG impact Quarterhill's stock QTRHF?

The settlement could enhance investor confidence by showcasing Wi-LAN's effective patent monetization strategy, potentially benefiting Quarterhill's stock performance.

What is the significance of the settlement for Wi-LAN's business?

The settlement highlights Wi-LAN's ability to monetize its patent portfolios, indicating strong demand from companies for licensing agreements.