(Reuters) - Shares of Wi-LAN Inc jumped 6 percent on Friday, a day after the firm agreed to settle its third patent litigation in less than a week, paving the way for more such settlements in lawsuits dating back to 2007.
The patent licensing firm said Broadcom Corp would take a multi-year license of its wireless patent portfolio, similar to its deals with Intel Corp and Atheros Communications Inc.
Earlier this week, Wi-LAN also said it was raising C$75 million in a bought deal to purchase patent portfolios.
Alexander Poltorak, chief executive of patent advisory firm General Patent Corp said Wi-LAN is likely to focus on its wireless patent portfolio in the near-term and also expand to other areas, going forward.
Wi-LAN’s shares, which fell 10 percent on Thursday dragged down by sluggish markets, rose 6 percent to C$6.49 on Friday morning before paring some gains to trade at C$6.34 on the Toronto Stock Exchange.
It was the seventh-most actively traded stock on the exchange on Friday, with more than 3 million shares traded.
Reporting by Abhiram Nandakumar in Bangalore; Editing by Joyjeet Das