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Friday, October 28, 2011

Sterling's Mosaid deal includes Nokia-Microsoft patents, (TSE: WIN.TO)

Sterling Partners, the private equity firm that has agreed to purchase Mosaid Technologies , said on Friday the proposed acquisition included the core wireless patents controlled by the Ottawa-based company as part of a deal with Nokia and Microsoft. "Nokia and Microsoft have agreed to deliver consent to change of control, allowing retention of Core Wireless portfolio by Mosaid," Sterling said in a statement.Sterling and Mosaid announced a friendly, C$590 million ($594 million) takeover deal late on Thursday that trumped a rival, hostile offer from Wi-Lan Inc for C$532 million.

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 remained unchanged at $6.70. In the past year, the shares have traded as low as $4.00 and as high as $9.56. On average, 1065840 shares of WIN.TO exchange hands on a given day and today's volume is recorded at 724909.