Nov 23 (Reuters) - Canada’s Mosaid Technologies Inc , which last month agreed to be acquired by Sterling Partners for C$590 million, posted a second-quarter loss and suspended its dividend payment for the quarter.
Mosaid, a patent-licensing firm, said it incurred one-time expenses of C$4.2 million ($4.01 million) in the quarter related to a special committee for the sale review.
The company said it suspended the dividend payment as per an agreement with Sterling.
Mosaid posted a net loss of C$4.9 million, or 40 Canadian cents a share, compared with a net income of C$6.1 million, or 53 Canadian cents a share, last year.
Revenue rose 1 percent to C$20.2 million.
On Oct. 27, Mosaid said it agreed to be bought by U.S.-based private equity firm Sterling, whose offer trumped a hostile bid from rival Wi-Lan Inc.
Mosaid shares closed at C$45.84 on Wednesday on the Toronto Stock Exchange. ($1 = 1.0467 Canadian dollars) (Reporting by Ankur Banerjee in Bangalore; Editing by Maju Samuel)