Quarterhill shares soar after signing patent license agreement with Apple

OTTAWA – Shares of Quarterhill Inc. gained more than 15 per cent in early trading after its Wi–LAN Inc. subsidiary and WiLAN’s subsidiary Polaris Innovations Ltd. signed a patent license agreement with Apple Inc.

The deal includes the settlement and dismissal of all litigation pending between the companies in the United States, Canada and Germany.

Financial terms of the agreement were not disclosed.

In February, the U.S. Court of Appeals for the Federal Circuit ruled in WiLAN’s favour in its dispute with Apple in a patent infringement case.

The Appeal Court had sent the case back to the district court level to determine damages.

Quarterhill shares were up 40 cents or 19 per cent at $2.50 in early trading on the Toronto Stock Exchange.

This report by The Canadian Press was first published March 22, 2022.

Companies in this story: (TSX:QTRH)