Canadian patent licensing company Mosaid Technologies said late on Thursday that it agreed to be bought by U.S.-based private equity firm Sterling Partners for C$590 million ($596 million), which trumped a hostile bid from rival Wi-Lan Inc for C$532 million.Sterling Partners, with offices in Chicago, Baltimore, and Miami, said it would pay C$46 in cash for each share of Mosaid.The offer has the unanimous support of Mosaid's board of directors, Mosaid said.Wi-Lan, which last week raised its offer for Mosaid to C$42 a share from an earlier C$38 a share, declined comment.
Wi-LAN Inc. (WiLAN) develops, acquires, and licenses a range of intellectual property that drives products in communications and consumer electronics markets. Shares of WIN traded higher by 7.54% or $0.47/share to $6.70. In the past year, the shares have traded as low as $4.00 and as high as $9.56. On average, 1088180 shares of WIN.TO exchange hands on a given day and today's volume is recorded at 724909.
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