Quarterhill IncQTRHFQTRHWi-LAN Inc’s subsidiaries, Innovative Memory Solutions Inc. (IMS), North Star Innovations Inc (NSI), and Cetus Technologies Inc have forged a license and settlement agreement with Micron Technology, IncMU.
The financial terms of the transaction remain undisclosed.
The agreement also includes settling and dismissing all pending patent litigation with Micron in the U.S. and China.
WiLAN, a Quarterhill company, is one of the most successful patent monetization companies.
The drive companies have recently significantly lowered their forecasts for the September quarter due to weaker trends, especially in Asia, where inventory corrections are currently underway.
Micron had guided a significant sequential decline and a possible loss for this quarter.
Price Action: MU shares traded higher by 2.27% at $54.92 on the last check Friday.
