Wi-LAN Up 5% After New Kyocera Licensing Agreement

Shares of Wi-LAN Inc WILN gained more than 5 percent Tuesday morning after the company announced a new multi-year license agreement with Kyocera Corp (ADR) KYO.

Wi-Lan noted that the license resolves litigation that is pending in the Eastern District of Texas. The company added the consideration to paid to WiLan and other terms of the license agreement are confidential.

"We are pleased to welcome yet another world-class licensee to WiLAN's growing wireless portfolio," Jim Skippen, WiLAN's President & CEO said in the press release. "The signing of Kyocera to this comprehensive agreement is further validation of the value of our patent portfolio."

Shares traded recently at $1.32, up 5.6 percent.