Quarterhill shares soar after firm signs patent license agreement with Apple

apple products

Shares of Quarterhill gained nearly 15 per cent in midday trading after its WiLAN subsidiary and WiLAN's subsidiary Polaris Innovations signed a patent license agreement with Apple.

The deal includes the settlement and dismissal of all litigation pending between the companies in the United States, Canada and Germany.

Financial terms of the agreement were not disclosed.

In February, the U.S. Court of Appeals for the Federal Circuit ruled in WiLAN's favour in its dispute with Apple in a patent infringement case.

The Appeal Court had sent the case back to the district court level to determine damages.

Quarterhill shares were up 28 cents or 13 per cent at $2.38 in mid-afternoon trading on the Toronto Stock Exchange.

Although Quarterhill is now headquartered in Toronto, WiLAN retains an office in Ottawa.