September 1, 2011 / 11:42 AM / 7 years ago

UPDATE 1-Mosaid buys Luxembourg-based wireless patents holder

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Sept 1 (Reuters) - Canadian patent licensing firm Mosaid Technologies bought Luxembourg-based Core Wireless Licensing S.a.r.l in a deal that adds nearly 2000 telecom and wireless patents to its portfolio.

The company, which has been working on the acquisition since March, also kept its outlook for 2012 and said it will fund the deal with future royalty payments and patent enforcement revenue.

Mosaid’s acquisition marks the latest in a string of deals in the patent licensing space, including Google’s $12.5 billion purchase Motorola Mobility in August.

Mosaid, currently subject of a hostile takeover bid from peer WiLAN Inc , said Core Wireless will operate as a wholly-owned unit of the company.

On Aug 17, WiLAN offered to buy Mosaid for about $490 million in an all-cash, unsolicited bid. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Viraj Nair)

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