Shares of Wi-LAN Inc – US listing (NASDAQ:WILN) are trading up today after it has been announced that the company has reached a multi-year licensing deal with Kyocera (NYSE:KYO).
While details of the deal are sparse and much of it is said to be “confidential”, the company did say that, “The license resolves litigation pending in the Eastern District of Texas.”
“We are pleased to welcome yet another world-class licensee to WiLAN’s growing wireless portfolio,” said Jim Skippen, WiLAN’s President & CEO. “The signing of Kyocera to this comprehensive agreement is further validation of the value of our patent portfolio.”
The stock is up 5.60% or $0.07 following the news, hitting $1.32 per share. About 248,744 shares traded hands or up 40.73% from the average. WILN has declined 37.19% since May 26, 2015 and is currently downtrending. It has underperformed the S&P500 by 34.92%.
Wi-LAN Inc. is an intellectual property licensing company. The company has a market cap of $150.99 million. The Firm develops, acquires, licenses and enforces a range of patented technologies which are utilized in products in the communications and consumer electronics markets. It has 22 P/E ratio. The Firm also manages intellectual property and licenses the patented technologies to firms.