Wi-Lan Jumps Most Since 2011 After Samsung Deal: Toronto MoverHugo Miller
Wi-Lan Inc., a Canadian owner of patents for wireless products, rose the most in more than two years after renewing a deal with Samsung Electronics Co. for technology used in the South Korean smartphone maker’s devices.
Wi-Lan jumped 11 percent to C$4.71 at the close in Toronto, the biggest one-day gain since May 2011. The stock has risen 4 percent this year.
The agreement covers long-term licensing for mobile phones, tablets, laptops and networking equipment, the Ottawa-based company said in a statement today. The deal adds “significantly greater patent scope,” Wi-Lan said, without specifying the terms or the length of the license.
With the Samsung deal, Wi-Lan is riding the popularity of phones like the Galaxy S series, which rival Apple Inc.’s iPhone in popularity. Suwon, South Korea-based Samsung is the biggest phonemaker to use Google Inc.’s Android operating system, which accounted for 75 percent of the global smartphone market in the first quarter of this year, according to IDC.