September 12, 2011 / 11:01 AM / in 7 years

CORRECTED-UPDATE 2-Mosaid exploring alternatives to Wi-Lan bid

(Removes reference in paragraph 5 to Mosaid buying the patents to thwart Wi-Lan bid)

* Says talking to third parties

* Says Wi-Lan made inaccurate statements about Mosaid’s ops

Sept 12 (Reuters) - Mosaid Technologies said it is exploring a number of alternatives to Wi-Lan Inc’s C$480 million buyout offer, and said the suitor had made some inaccurate statements about Mosaid’s operations last week.

In August, Wi-Lan made an unsolicited cash offer to buy its fellow Canadian patent company. .

Mosaid said it has been approached by and has itself initiated talks with several third parties.

The company expects to talk to more parties and will give them access to more information later this week, it said in a statement.

Mosaid recently bought some patents from Nokia and Microsoft , and has asked its shareholders for time to prove the worth of these patents.

The Canadian patent company said Wi-Lan’s inaccurate statements regarding its “track record and the value of the core wireless portfolio,” has complicated the process of pursuing alternatives. (Reporting by Aftab Ahmed in Bangalore; Editing by Sayantani Ghosh)

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