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Wi-Lan finalizes licensing deal with Samsung; shares jump

Models pose for photographers with Samsung Electronics Co Ltd's latest flagship smartphone S4 during its launch event at the company's headq
Models pose for photographers with Samsung Electronics Co Ltd's latest flagship smartphone S4 during its launch event at the company's headq

TORONTO (Reuters) - Patent licensing company Wi-Lan Inc said on Thursday it has renewed a broad long-term license deal with Samsung Electronics Co, allowing the South Korean technology company to use Wi-Lan's patents in its mobile devices.

Under the license agreement, Wi-Lan has granted Samsung a license to use its patents for wireless mobile products, such as smartphones, tablets, laptops and networking equipment.

Shares in Ottawa-based Wi-Lan, which closed on Thursday down 3.1 percent at $4.12 on the Nasdaq, surged some 14 percent to $4.70 in light trading after the bell in the United States.

This new license renews the previous one covering wireless products but adds significantly greater patent scope and term of years, Wi-Lan said in a statement.

The financial terms and other details of the licensing deal were not disclosed.

The licensing deal is likely to protect Samsung from being sued by Wi-Lan, which over the course of the last year has filed a string of patent infringement lawsuits against Apple Inc, HTC Corp and BlackBerry, among others.

(Reporting by Euan Rocha; editing by Matthew Lewis)

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