OTTAWA, May 29, 2018 /PRNewswire/ - Wi-LAN Inc. ("WiLAN"), a Quarterhill Inc.("Quarterhill") company (TSX: QTRH) (NASDAQ: QTRH), today announced that its wholly-owned subsidiary, Security Video Camera Systems, Inc., has acquired a portfolio of patents from Panasonic Corporation ("Panasonic"). The portfolio contains 34 patent families comprising 96 patents worldwide. The acquisition was made under WiLAN's partnership program which features the sharing of revenues generated from a licensing program.
The portfolio relates to security camera surveillance technologies covering image analysis, image recognition, camera control, camera mechanical/housing technologies; and security camera systems used in retail and other commercial buildings as well as in smart home applications.
Recent market research demonstrated that the global market for commercial security camera systems was approximately $9 Billion by 2017, while according to the information and analytics research firm Strategy Analytics, Inc., the global smart home residential market is forecasted to exceed $9.7 Billion by 2023.
All other terms of the agreement are confidential.
WiLAN, a Quarterhill company, is one of the most successful patent licensing companies in the world and helps companies unlock the value of intellectual property by managing and licensing their patent portfolios. The company operates in a variety of markets including automotive, digital television, Internet, medical, semiconductor and wireless communication technologies. For more information: www.wilan.com.
Quarterhill is focused on the disciplined acquisition, management and growth of companies in dedicated technology areas including, vertical market software and solutions, intelligent industrial systems, and innovation and licensing. Quarterhill's emphasis is on seeking out acquisition opportunities at reasonable valuations that provide a foundation for recurring revenues, predictable cash flows and margins, profitable growth, intimate customer relationships and dedicated management teams. Quarterhill is listed on the TSX and NASDAQ under the symbol QTRH. For more information: www.quarterhill.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. Forward-looking statements and forward-looking information are based on estimates and assumptions made by Quarterhill 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 Quarterhill believes are appropriate in the circumstances. Many factors could cause Quarterhill'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 its March 1, 2018 annual information form for the year ended December 31, 2017 (the "AIF"). Copy of the AIF may be obtained at www.sedar.com or www.sec.gov. Quarterhill recommends that readers review and consider all of these risk factors, and notes that readers should not place undue reliance on any of Quarterhill's forward-looking statements. Quarterhill 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.
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SOURCE Wi-LAN Inc.