Wi-Lan finalizes licensing deal with Samsung; shares jump
TORONTO (Reuters) - Patent licensing company Wi-Lan Inc said on Thursday it has renewed a broad long-term license deal with Samsung Electronics Co, allowing the South Korean technology company to use Wi-Lan's patents in its mobile devices.
Under the license agreement, Wi-Lan has granted Samsung a license to use its patents for wireless mobile products, such as smartphones, tablets, laptops and networking equipment.
Shares in Ottawa-based Wi-Lan, which closed on Thursday down 3.1 percent at $4.12 on the Nasdaq, surged some 14 percent to $4.70 in light trading after the bell in the United States.
This new license renews the previous one covering wireless products but adds significantly greater patent scope and term of years, Wi-Lan said in a statement.
The financial terms and other details of the licensing deal were not disclosed.
The licensing deal is likely to protect Samsung from being sued by Wi-Lan, which over the course of the last year has filed a string of patent infringement lawsuits against Apple Inc, HTC Corp and BlackBerry, among others.
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