June 20, 2013 / 9:40 PM / 4 years ago

Wi-Lan finalizes licensing deal with Samsung; shares jump

2 Min Read

TORONTO, June 20 (Reuters) - Patent licensing company Wi-Lan Inc said on Thursday it has renewed a broad long-term license deal with Samsung Electronics Co, allowing the South Korean technology company to use Wi-Lan's patents in its mobile devices.

Under the license agreement, Wi-Lan has granted Samsung a license to use its patents for wireless mobile products, such as smartphones, tablets, laptops and networking equipment.

Shares in Ottawa-based Wi-Lan, which closed on Thursday down 3.1 percent at $4.12 on the Nasdaq, surged some 14 percent to $4.70 in light trading after the bell in the United States.

This new license renews the previous one covering wireless products but adds significantly greater patent scope and term of years, Wi-Lan said in a statement.

The financial terms and other details of the licensing deal were not disclosed.

The licensing deal is likely to protect Samsung from being sued by Wi-Lan, which over the course of the last year has filed a string of patent infringement lawsuits against Apple Inc , HTC Corp and BlackBerry, among others.

Reporting by Euan Rocha; editing by Matthew Lewis

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below