Xerox licenses patents from Open Network Systems of Canada. Read how Xerox grabbed this technology to help with networking communications between POS terminals, printers, smart TVs and more.
OTTAWA, CANADA, Sep 14, 2015 (Marketwired via COMTEX) — WiLAN (WIN) WILN, +0.99% today announced that the Company’s subsidiary, Open Network Systems Inc., has entered into a patent license agreement with Xerox Corporation. The licensed patents relate to networking capabilities of non-standard devices. The licensed technologies enable devices, including point of sale terminals, printers and smart TVs, to communicate on a network.
“I’m pleased with the performance of this portfolio,” said Jim Skippen, President & CEO. “We have signed over ten licenses to this portfolio since acquiring the technology in April 2014 through a licensing partnership, creating value for our shareholders and our licensing partner.”
WiLAN typically offers little to no upfront payment to acquire portfolios under its licensing partnership model. Patent vendors receive all or most of their compensation once WiLAN has successfully licensed the relevant portfolio.
The license resolves litigation pending in the District of Delaware. The terms of the license agreement are confidential.
WiLAN is one of the most successful patent licensing companies in the world and helps companies unlock the value of intellectual property by managing and licensing their patent portfolios. The Company operates in a variety of markets including automotive, digital television, Internet, medical, semiconductor and wireless communication technologies. WiLAN’s wholly-owned subsidiary, WiLAN Labs, develops and commercializes innovative solutions to the challenges facing next generation communication networks. Founded in 1992, WiLAN is listed on the TSX and NASDAQ and is included in the S&P/TSX Dividend and Dividend Aristocrats Indexes. For more information: www.wilan.com.
This news release contains forward-looking statements and forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other United States and Canadian securities laws. Forward-looking statements and forward-looking information are based on estimates and assumptions made by WiLAN in light of its experience and its perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that WiLAN believes are appropriate in the circumstances. Many factors could cause WiLAN’s actual performance or achievements to differ materially from those expressed or implied by the forward-looking statements or forward-looking information. Such factors include, without limitation, the risks described in WiLAN’s February 2, 2015 annual information form for the year ended December 31, 2014 (the “AIF”). Copies of the AIF may be obtained at www.sedar.com or www.sec.gov. WiLAN recommends that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of WiLAN’s forward-looking statements. WiLAN has no intention and undertakes no obligation to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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Director, Investor Relations