Click here to close now.


News Feed Item

WiLAN Concludes Strategic Review; Formulates Growth Plan

$200 million sustainable annual revenue opportunity in five years

OTTAWA, CANADA -- (Marketwired) -- 05/14/14 -- Wi-LAN Inc. ("WiLAN" or the "Company") (TSX:WIN) (NASDAQ:WILN) today announced that its Board of Directors has concluded its review of strategic alternatives for the Company. Following a comprehensive process involving financial advisor Canaccord Genuity, the Board of Directors determined that it is in the best interests of the Company and our shareholders to execute an updated business plan focused on business diversification, licensing partnerships, improved profitability and increasing the return of cash generated from operations to shareholders.

"We entered into the strategic review process highly confident in the strength of our stand-alone business," said Paul McCarten, Chairman of the Board of Directors. "After conducting a comprehensive review of a wide range of strategic options in collaboration with our financial advisor, Canaccord Genuity, we have concluded that shareholders are best served by modifying the Company's business strategy to address current market dynamics. In our view, continuing with an updated strategy is the best way to maximize shareholder value."

"Since we commenced this review process our business has made significant progress," said Jim Skippen, President & CEO. "We have:

--  Delivered two quarters with very strong revenues and GAAP earnings; 
--  Signed a partnership deal with Panasonic that anchors several new
    semiconductor licensing programs which we expect to begin generating
    revenue in the near term; 
--  Entered licensing partnerships in the automotive, networking, and
    industrial products markets; 
--  Signed license agreements with HTC, Sierra Wireless, Toshiba, and Hon
--  Signed our first license in the network management market with a US
    based cellular carrier; 
--  Signed our first two licenses in a partnership program for technology
    used in video games; 
--  Succeeded in having the Judge overturn a jury's determination in our
    Texas case against Apple that our '802 patent was invalid; and 
--  In our California case involving Apple and LTE- related technology,
    succeeded in having the court clarify certain claim constructions, which
    we believe help our overall case."

"However, successful companies do not stand still, but embrace change," continued Skippen. "WiLAN has identified a number of strategies that we believe will enhance the value of the enterprise over the short and long term:

--  First, we will diversify our revenue base by moving our focus from
    licensing WiLAN's entire portfolio to licensing smaller subsets of the
    portfolio. We will also continue to add licensing programs in new market
--  Second, to reduce the risk in our business model, we will limit the
    outright purchases of patent portfolios we make. Instead, we will focus
    on attracting portfolios from companies seeking a licensing partner that
    are willing to share with us the risk of the success of the licensing
--  Third, we will focus on increasing the profitability of our business by
    ensuring that law firms working with us share in some of the risk of our
    licensing programs; and 
--  Fourth, we will consider selling some of the non-core patents in our
    portfolio to generate revenues and reduce the maintenance costs of the

Incorporating these strategies, we have established a roadmap to increase GAAP earnings to at least $0.30 per share by 2018 by more than doubling our revenues and increasing our operating leverage. If these targets are achieved, the strong profitability of our business will drive higher returns to shareholders through quarterly dividends that we will strive to increase regularly. The first increase, to $0.05 per quarter per share, represents a 25% increase and will take effect with the Q2 2014 declaration. At today's share price, this represents a yield of approximately 5.6%."

The board has also approved the entering into of a Normal Course Issuer Bid to repurchase for cancellation upto 10% of the issued and outstanding common shares of the Company subject to the receipt of regulatory and other approvals.

Conference Call Information - May 14, 2014 - 5:00 PM ET

WiLAN will conduct a conference call at 5:00 PM Eastern Time (ET) today. WiLAN President & CEO, Jim Skippen and other members of the Company's management team will be on the call.

Calling Information                                                         
A live audio webcast will be available at                                               
- To access the call from Canada and U.S., dial 1.877.407.0782 (Toll Free)  
- To access the call from other locations, dial 1.201.689.8567              
Replay Information                                                          
The call will be available at                                                           
and accessible by telephone until 11:59 PM ET on August 14, 2014.           
Replay Number (Toll Free): 1.877.660.6853                                   
Replay Number (International): 1.201.612.7415                               
Conference ID #: 13582853                                                   

About WiLAN

WiLAN, founded in 1992, is a leading technology innovation and licensing company. WiLAN has licensed its intellectual property to over 280 companies worldwide. Inventions in our portfolio have been licensed by companies that manufacture or sell a wide range of communication and consumer electronics products including 3G and 4G handsets, Wi-Fi-enabled laptops, Wi-Fi and broadband routers, xDSL infrastructure equipment, cellular base stations and digital TV receivers. For more information:

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. The phrases "to continue", "to increase", "to hold", "to execute an updated business plan", "business diversification", "improved profitability", "increasing the return of cash generated from operations to shareholders", "best served by modifying the Company's business strategy", "to address", "continuing with an updated strategy is the best way to maximize shareholder value", "we will diversify our revenue base", "to licensing", "we will", "continue to add licensing programs", "to reduce", "we will limit the outright purchases of patent portfolios", "seeking a licensing partner", "to share", "increasing the profitability of our business", "will also consider selling some of the non-core patents", "to generate", "reduce the maintenance costs", "to increase", "to at least $0.30 per share by 2018", "more than doubling our revenues", "increasing our operating margins", "will drive higher returns to shareholders", "we will strive to increase regularly", "will take effect", "will focus", "will enhance the value"and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements and forward-looking information are based on estimates and assumptions made by WiLAN in light of its experience and its perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that WiLAN believes are appropriate in the circumstances. Many factors could cause WiLAN's 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 WiLAN's February 3, 2014 annual information form for the year ended December 31, 2013 (the "AIF"). Copies of the AIF may be obtained at or WiLAN recommends that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of WiLAN's forward-looking statements. WiLAN has no 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.

All trademarks and brands mentioned in this release are the property of their respective owners.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, will show how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants will get the download information, scripts, and complete en...
Data loss happens, even in the cloud. In fact, if your company has adopted a cloud application in the past three years, data loss has probably happened, whether you know it or not. In his session at 17th Cloud Expo, Bryan Forrester, Senior Vice President of Sales at eFolder, will present how common and costly cloud application data loss is and what measures you can take to protect your organization from data loss.
The cloud has reached mainstream IT. Those 18.7 million data centers out there (server closets to corporate data centers to colocation deployments) are moving to the cloud. In his session at 17th Cloud Expo, Achim Weiss, CEO & co-founder of ProfitBricks, will share how two companies – one in the U.S. and one in Germany – are achieving their goals with cloud infrastructure. More than a case study, he will share the details of how they prioritized their cloud computing infrastructure deployments ...
WebRTC: together these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at WebRTC Summit, Cary Bran, VP of Innovation and New Ventures at Plantronics and PLT Labs, will provide an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it may enable, complement or entirely transform.
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet condit...
Between the compelling mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how busine...
Interested in leveraging automation technologies and a cloud architecture to make developers more productive? Learn how PaaS can benefit your organization to help you streamline your application development, allow you to use existing infrastructure and improve operational efficiencies. Begin charting your path to PaaS with OpenShift Enterprise.
SYS-CON Events announced today that Spirent Communications, the leader in testing navigation and positioning systems, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Spirent Communications enables innovations in communications technologies that help connect people. Whether it is service provider, data centers, enterprise IT networks, mobile communications, connected vehicles or the Inte...
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing thes...
Achim Weiss is Chief Executive Officer and co-founder of ProfitBricks. In 1995, he broke off his studies to co-found the web hosting company "Schlund+Partner." The company "Schlund+Partner" later became the 1&1 web hosting product line. From 1995 to 2008, he was the technical director for several important projects: the largest web hosting platform in the world, the second largest DSL platform, a video on-demand delivery network, the largest eMail backend in Europe, and a universal billing syste...
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult - let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and li...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively.
As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ability. Many are unable to effectively engage and inspire, creating forward momentum in the direction of desired change. Renowned for its approach to leadership and emphasis on their people, organizations increasingly look to our military for insight into these challenges.
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi's VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driv...