WiLAN Subsidiaries Enter into License Agreement with Micron

Rhea-AI Summary

On October 21, 2022, Wi-LAN Inc., a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), announced a licensing and settlement agreement with Micron Technology. This deal covers patents related to semiconductor memory technologies, resolving ongoing patent litigation in the United States and China. The financial terms and license fees associated with this agreement remain confidential. Wi-LAN specializes in patent monetization across various sectors, enhancing its position within the semiconductor industry.

Positive

• Licensing agreement with Micron may enhance revenue through patent monetization.
• Settlement resolves ongoing litigation, potentially reducing legal costs.

Negative

• Confidentiality of agreement terms may indicate lower-than-expected financial returns.
• -

OTTAWA, ON, Oct. 21, 2022 /PRNewswire/ - Wi-LAN Inc. ("WiLAN"), a Quarterhill Inc. ("Quarterhill") company (TSX: QTRH) (OTCQX: QTRHF) today announced that its wholly owned subsidiaries, Innovative Memory Solutions Inc. ("IMS"), North Star Innovations Inc. ("NSI") and Cetus Technologies Inc. ("Cetus") have entered into a license and settlement agreement with Micron Technology, Inc. ("Micron").

Micron has obtained a license to patents owned by IMS, NSI and Cetus, which relate generally to semiconductor memory technologies. The agreement also includes the settlement and dismissal of all pending patent litigation with Micron in the United States and China.

The license fees payable by Micron and all other terms of the license agreement 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, visit 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-subsidiaries-enter-into-license-agreement-with-micron-301655766.html

SOURCE Quarterhill Inc.

FAQ

What is the significance of the licensing agreement between Wi-LAN and Micron Technology on October 21, 2022?

The agreement allows Micron to use Wi-LAN's semiconductor memory patents, potentially boosting Wi-LAN's revenue via licensing fees.

How does the agreement affect ongoing litigation between Wi-LAN and Micron?

The agreement settles and dismisses all pending patent litigation in the United States and China.

What is the stock symbol for Quarterhill and Wi-LAN?

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