Wi-LAN Inc. has signed a multiyear agreement that gives Cisco Systems Inc. the licences to "virtually all" of its patents.
The Ottawa-based company, which specializes in licensing rights to intellectual property and patents, did not disclose the financial details of the transaction.
The two firms have been partners in patent agreements since Wi-LAN first launched the program in October, 2005, and the latest agreement covers patents that Wi-LAN has added since that time.
"We are very pleased to have signed this new license with global networking leader Cisco," said Wi-LAN chief executive officer Jim Skippen in a release.
"It is a testament to the strength of our acquisition and intellectual property development programs that Cisco has elected to renew its license. It is a particularly important milestone for Wi-LAN, since it represents our first renewal license."
In February, Wi-LAN gave an optimistic revenue outlook in the range of $110-million (U.S.) to $115-million, more than double its revenue estimate for 2010 of about $50.7-million (Canadian).
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