Wi-LAN finalizes acquisition of Tri-Vision

Wi-LAN Inc. completes its acquisition of Tri-Vision International Inc. in an all-share WiLan.jpgtransaction wherein the Toronto-based company received approximately 17.6 million common shares of Wi-LAN. The Ottawa patent licencer also assumed Tri-Vision warrants exercisable for approximately 530,000 Wi-LAN common shares. The deal was a fait accompli after more than 90% of Tri-Vision’s shareholders voted in favour of the merger last week, following its earlier unanimous approval by the board of both companies. Wi-LAN now controls Tri-Vision’s valuable V-chip-related patents. The V-chip is currently the only parental control technology mandated by the U.S. Federal Communications Commission for inclusion in TV receivers, set-top boxes, VCRs and digital video recorders sold or made in the United States. Royalties on the patents added $1.3 million to Tri-Vision’s coffers in its fourth quarter.

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