Wi-LAN (TSE:WIN) shares were off Monday, reversing earlier gains, after the company said Panasonic Corp has agreed to transfer more than 900 patents and applications related to semiconductor device technologies to a Wi-LAN unit.
Wi-LAN said it believes the Panasonic semiconductor portfolio has current applications in a wide range of products, including CMOS image sensors, microcontrollers and semiconductors used in optical drives.
"This broad transaction with Panasonic, one of the largest electronics companies in the world, is a very important new area of focus for our business," said president and CEO of Wi-LAN, Jim Skippen, in the release.
"We believe that through tighter business relationships with licensees and partners, we can provide more value to our licensees and develop new sources of revenues for our shareholders.
"Given Panasonic's almost one hundred year history as a leader in research and product development, we are very excited to have this opportunity to help them obtain better returns on their R&D investments."
With more than 140,000 patents worldwide, Panasonic is working to improve the monetization of its IP assets. Wi-LAN has licensed its intellectual property to over 275 companies globally, and has a portfolio of over 3,000 issued or pending patents.
Shares of Wi-LAN were lately down 1.2% in Toronto, at $3.29, earlier touching as high as $3.38.