WiLan offers $460M for Mosaid

Technology licensing company WiLan said on Wednesday it plans to make an all-cash offer to buy fellow Canadian patent company Mosaid for about $460 million.

WiLan said it would pay $38 a share for Mosaid to create a company with global "scope, scale and expertise".

That price is a 20 percent premium to Mosaid's closing price on Wednesday.

Technological patents have come to the fore in recent years, illustrated by the $4.5 billion price tag on intellectual property belonging to bankrupt Nortel Networks .

WiLan said that, pending completion of the deal, it would consider increasing its quarterly dividend