|By Marketwired .||
|May 14, 2014 04:20 PM EDT||
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 Hai; -- 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 segments; -- 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 program; -- 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 portfolio."
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 http://www.investorcalendar.com/IC/CEPage.asp?ID=172773 - 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 (International) Replay Information The call will be available at http://www.investorcalendar.com/IC/CEPage.asp?ID=172773 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
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: www.wilan.com.
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 www.sedar.com or www.sec.gov. 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.
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. 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 abi...
Mar. 27, 2017 05:00 AM EDT Reads: 11,014
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to transi...
Mar. 27, 2017 05:00 AM EDT Reads: 6,122
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 27, 2017 04:00 AM EDT Reads: 976
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service.
Mar. 27, 2017 03:45 AM EDT Reads: 2,935
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Mar. 27, 2017 03:15 AM EDT Reads: 3,126
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Mar. 27, 2017 03:00 AM EDT Reads: 2,956
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you ...
Mar. 27, 2017 02:15 AM EDT Reads: 4,133
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Mar. 27, 2017 01:45 AM EDT Reads: 2,882
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Mar. 27, 2017 01:45 AM EDT Reads: 2,948
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Mar. 27, 2017 01:15 AM EDT Reads: 1,820
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Mar. 27, 2017 12:45 AM EDT Reads: 2,028
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 27, 2017 12:30 AM EDT Reads: 827
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
Mar. 27, 2017 12:00 AM EDT Reads: 3,327
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
Mar. 26, 2017 09:45 PM EDT Reads: 2,043
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and micro services. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your contain...
Mar. 26, 2017 09:45 PM EDT Reads: 7,588