OTTAWA and HEFEI, China,
Dec. 5, 2019 /CNW/ - Wi-LAN Inc.
("WiLAN"), a Quarterhill Inc. ("Quarterhill") company (TSX: QTRH)
(NASDAQ: QTRH) and ChangXin Memory Technologies, Inc. ("CXMT"),
today announced that Polaris Innovations Limited ("Polaris"), a
wholly owned subsidiary of WiLAN, and CXMT have entered into a
patent license agreement and an independent patent acquisition
agreement, each relating to certain Dynamic Random Access Memory
("DRAM") patents developed by former DRAM manufacturer Qimonda AG
("Qimonda").
Under the patent license agreement, Polaris grants a license to
CXMT for numerous Polaris patents relating to DRAM technologies.
The licensed DRAM patents are a subset of the portfolio that
Polaris acquired from Infineon Technologies, the former parent
company of Qimonda, in June 2015.
Under the patent acquisition agreement, CXMT has agreed to
acquire a number of Polaris DRAM patents.
All other terms of the license and acquisition agreements,
including the consideration payable by CXMT to Polaris, are
confidential.
"We are pleased to have CXMT, a leader of China's DRAM industry, recognize the value of
the Polaris DRAM patents. The two agreements illustrate CXMT's
close attention to IP and commitment to continuous R&D
investment. We believe that the rights that CXMT secured through
these agreements could provide it with a competitive edge in the
industry and help it continue its development of key DRAM
technologies," said Michael
Vladescu, President and CEO of WiLAN. "CXMT's entry
into these agreements provides WiLAN with new momentum in
developing opportunities in key emerging markets such as
China, thereby continuing to
enhance value for our parent company Quarterhill and
investors."
"CXMT will continue to expand its core semiconductor
technologies and high-value IP assets through its own R&D
efforts and through cooperation with global partners such as
WiLAN," said Yiming Zhu, Chairman
and CEO of CXMT. "These two agreements represent the latest
effort made by CXMT to further expand its intellectual property
portfolio, build upon its technology strategy, and secure rights to
operate its DRAM business."
About WiLAN
WiLAN, a Quarterhill company, 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. For more information:
www.wilan.com.
About Quarterhill
Quarterhill is focused on the
disciplined acquisition, management and growth of companies in
dedicated technology areas including, vertical market software and
solutions, intelligent industrial systems, and innovation and
licensing. Quarterhill's emphasis is on seeking out
acquisition opportunities at reasonable valuations that provide a
foundation for recurring revenues, predictable cash flows and
margins, profitable growth, intimate customer relationships and
dedicated management teams. Quarterhill is listed on the TSX
and NASDAQ under the symbol QTRH. For more information:
www.quarterhill.com.
Forward-looking Information
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 Quarterhill and WiLAN in light of their experience and
their perception of historical trends, current conditions, expected
future developments and the expected effects of new business
strategies, as well as other factors that Quarterhill and WiLAN
believe are appropriate in the circumstances. Many factors could
cause 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 Quarterhill's February 28, 2019 annual information form for the
year ended December 31, 2018 (the
"AIF"). Copies of the AIF may be obtained at
www.sedar.com and as part of Quarterhill's Form 40-F for the
year ended December 31, 2018 filed
with the U.S. Securities and Exchange Commission and available at
www.sec.gov. Quarterhill recommends that readers review and
consider all of these risk factors, and notes that readers should
not place undue reliance on any of Quarterhill's or WiLAN's
forward-looking statements. Neither Quarterhill nor WiLAN has any
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.
About CXMT
Started in 2016, ChangXin Memory
Technologies, Inc. (CXMT) is an integrated design and manufacture
company specialized in dynamic random access memory (DRAM).
Currently, CXMT has put its first 12-inch wafer fab into
production. DRAM products are applied in a wide range of fields,
including mobile devices, computers, servers, artificial
intelligence, virtual reality and Internet of Things, enjoying an
enormous market potential. Since its establishment, CXMT takes
technology as the core and strengthens the establishment of
management system. On this basis, CXMT conducts rapid iterative
development with dedicated R&D line and significantly improves
its technology with advanced equipment, developing its own
distinctive technology system. CXMT is committed to becoming a
commercially successful semiconductor memory company that champions
pioneering technologies, thus to empower information society and
improve human lives through our memory technology. For more
information: https://www.cxmt.com
All trademarks and brands mentioned in this release are the
property of their respective owners.
View original
content:http://www.prnewswire.com/news-releases/wilan-subsidiary-and-cxmt-enter-into-license-and-acquisition-agreements-300969655.html
SOURCE Wi-LAN Inc.