OTTAWA - Wi-LAN Inc. (TSX:WIN) said Wednesday that HTC Corp. has agreed to sign a deal for a multi-year licence for patents for mobile handsets and tablets sold in the United States.
The deal settles five pending lawsuits between the companies.
Wi-LAN shares closed up 40 cents or about 10 per cent at $4.15 on the Toronto Stock Exchange.
The company, which licenses the rights to patents in its portfolio and earns money through royalty payments, said it expects a definitive agreement with HTC to be signed by the end of October.
Specific financial terms of the deal were not released.
"In taking its first license, HTC will join many other handset makers, including Samsung, LG and Motorola, who recognized the value of the many wireless inventions in our patent portfolio," Wi-LAN president and CEO Jim Skippen said.
On Monday, Wi-LAN announced a deal to settle a dispute with Alcatel-Lucent USA Inc., which received a multi-year licence to certain Wi-LAN patents related to wireless products.
Under a separate agreement, Wi-LAN will acquire a portfolio of patents from Alcatel-Lucent.
Terms and conditions of the two agreements were kept confidential.
© Copyright 2013