Wi-LAN settles lawsuit against Texas Instruments, shares jump
Ottawa-based technology licensing company Wi-LAN (TSE:WIN) (NASDAQ:WILN) jumped more than 9% in Monday's trading session after it announced that it has reached a settlement with Texas Instruments
Wi-LAN sued Texas Instruments in April of last year in the US District Court for the Eastern District of Texas, alleging Bluetooth technology infringement. The suit was part of a broader claim against several of the world's largest tech companies.
Terms of the settlement, including financial amounts to be paid to WiLAN, are confidential, the company said in a statement.
Founded in 1992, WiLAN has licensed its intellectual property to over 250 companies worldwide. Inventions in its portfolio have been licensed by companies that manufacture or sell a wide range of communication and consumer electronics products, including 3G cellular handsets, Wi-Fi-enabled laptops, Wi-Fi/DSL routers, among others.
The company has more than 1,400 issued or pending patents in its portfolio. Shares were up 8.6% to trade at $8.45 as of 1:50pm EDT on Monday.
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