Stock in Canadian patent house Wi-LAN Inc. soared 9 per cent Monday after the company announced it had settled a lawsuit with Texas Instruments Inc. over Bluetooth technology.
The company did not disclose details of the deal, including the size of the settlement.
On the Toronto Stock Exchange, Wi-LAN shares were up 70 cents at $8.48 in late morning trading Monday.
Wi-LAN sued Texas Instruments in April 2010 as part of a broader series of suits against several of the world's high-tech heavyweights over allegations of Bluetooth technology infringement.
Apple Inc. , Dell Inc. , Hewlett-Packard Co. , Intel Corp. , Motorola Inc. and Sony Corp. were among the defendants.
One of the more common uses for Bluetooth technology is to connect a person's headset to a cellphone to allow for hands-free talking.
Wi-Lan alleged the companies were violating a U.S. patent by selling products such as cellphones and laptops that contain Bluetooth technology, which is used widely for short-range wireless communications.
Some of those suits have since been settled with licensing agreements.
WiLan is a relatively small company that specializes in managing a portfolio of patents and collecting licence fees from equipment makers that use the technology in their products.
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