Shares of Wi-LAN (TSX:WIN) are trending higher after the company yesterday announced the acquisition of portfolio of patented technology that relates to the automation of industrial facilities, including manufacturing plants and refineries.
The pickup, which was made through Wi-LAN’s wholly owned subsidiary, Automation Middleware Solutions, is a sidestep for the company, which normally focuses on intellectual property around wireless communications. But Wi-LAN has shown signs of branching out. Last summer the company acquired a portfolio of medical patents that relate to Stent technology, the company’s first foray into medical technology.
The company now has more than 40 portfolios available for licensing.
“This portfolio has already generated licence agreements worth many tens of millions of dollars, and key patents in the portfolio have been affirmed by multiple patent office actions,” said CEO Jim Skippen. “We are excited to have the opportunity to license this quality patent portfolio to the majority of the market that remains unlicensed.”
Wi-LAN says believes that technology in the portfolio is applicable to a range of industrial automation systems, including manufacturing robots, actuators and computer numerical control machines
At press time, shares of Wi-LAN on the TSX were up 2.7% to $2.65.