UPDATE 1-Wi-LAN, Telus settle lawsuit

* Says terms of agreement confidential

* Wi-LAN has no other future or ongoing payment obligations

April 21 (BestGrowthStock) – Technology licensing firm Wi-LAN Inc
(WIN.TO: ) said on Wednesday it signed a final agreement to
settle a lawsuit filed against it by Canada’s No. 2 phone
company Telus Corp (T.TO: ).

Wi-LAN, which develops and licenses intellectual property
for products in the communications and consumer electronics
markets, said the terms of the agreement are confidential.

Telus in its lawsuit claimed ownership interests in some of
Wi-LAN’s patents.

As part of the final settlement, Telus has sold any rights
it may have had in the patents to Wi-LAN in exchange for a
one-time payment.

Wi-LAN said it has no other future or ongoing payment
obligations to Telus.

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(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by
Aradhana Aravindan)

UPDATE 1-Wi-LAN, Telus settle lawsuit