January 21, 2011 / 4:31 PM / 7 years ago

Wi-LAN shares rise after patent settlements

(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

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