WiLAN and Sierra Wireless Reach Agreement to Settle Litigations
OTTAWA, Canada – October 10, 2013 – Wi-LAN Inc. (“WiLAN” or the “Company”) (TSX:WIN) (NASD:WILN) today announced that WiLAN and Sierra Wireless Inc. (“Sierra Wireless”) have signed a binding memorandum of understanding in which Sierra Wireless has agreed to enter into a multi-year license to WiLAN’s patent portfolio. As part of the agreement, all litigations between WiLAN and Sierra Wireless and its subsidiaries will be resolved.
WiLAN expects a definitive agreement to be executed by the end of October 2013. Specific financial terms of the agreement reached are confidential.