Wi-LAN Inc., a company that engages in the acquisition, development, and licensing of technologies for the communications and consumer electronics markets internationally, has announced that it has entered into a partnership with Poynt Corporation, a developer and operator of mobile applications. The partnership will allow for WiLAN to assist Poynt in the licensing of its portfolio for patents that relate to Internet advertising.
“With over 250 companies licensed and signed agreements worth hundreds of millions of dollars, all in just five years, WiLAN’s licensing capabilities are second to none,” said Andrew Osis, President and CEO, Poynt. “WiLAN’s proven track record and strong financial position made WiLAN the licensing partner of choice for Poynt.”
“Like WiLAN, Poynt developed technologies that have helped make multi-billion dollar markets a reality,” said Jim Skippen, Chairman & CEO, WiLAN. “We are very excited to have the opportunity to do for Poynt’s shareholders what we have done for WiLAN’s – generate a significant return on their past investment in research and development.”
Skippen also stated, “More companies are looking to monetize their patents but lack the resources and expertise to be truly successful. Seeing the strength of the programs that we have built, many companies are looking to leverage WiLAN’s expertise through licensing partnerships.”
In accordance to the terms of the partnership agreement, WiLAN’s subsidiary Gladios IP will have the daily responsibility of developing programs geared at licensing Poynt’s patent portfolio.
Wi-LAN Inc. also recently announced its first quarter results for the 2011 financial year. Revenues were reported at $26.3 million, an increase of 65% from the $15.9 million in the three-month period that ended March 31, 2010. Record adjusted earnings were reported at $13.0 million, or $0.11 per share, in comparison to the adjusted earnings of $7.5 million, or $0.07 per share, in the three-month period that ended March 31, 2010. Wi-LAN reported net earnings of $19.8 million, or $0.17, compared to the net earnings of $1.1 million, or $0.01 per share, for the three-month period that ended March 31, 2010.
“WiLAN was transformed in the first quarter of fiscal 2011,” said Jim Skippen, Chairman & CEO. “Agreements signed during the quarter with marquee corporations including Intel, Broadcom and Motorola contributed to record revenues during the quarter. The agreements also ended four major litigations ,which should contribute to a significant reduction in our future litigation expenses. I stated many times before, my belief that our past investment in litigation could generate a significant return in the future. Our record revenues and earnings in the first quarter signal the beginning of that return to WiLAN and its shareholders.”
Skippen additionally stated, “The recent start of trading of WiLAN shares alongside our peers on NASDAQ is another exciting accomplishment and signals the significant strength of our business. We have only started to realize WiLAN’s potential and with our strong financial position, we are better positioned than ever to build long-term shareholder value.”
For more information on WiLAN Inc., visit their company website: www.wilan.com
For more information on Poynt Corporation, you can visit their company website at: www.poynt.com
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