Mosaid in wireless deal with US chip supplier

NEW YORK, USA: Canadian patent licensing firm Mosaid Technologies Inc on Monday said it signed a five-year wireless patent license agreement with a leading U.S. semiconductor supplier.

The deal includes a series of fixed payments, beginning in the second quarter, and quarterly royalty payments payable throughout the license term, starting in the third quarter, Mosaid said in a statement.

All other financial details are confidential, the company said. "This is the first wireless patent license agreement that we have signed with a semiconductor vendor, providing another source of licensing revenues for our wireless patents," said Chief Executive John Lindgren.

Kanata, Ontario-based Mosaid has signed 15 wireless patent license agreements with global companies since 2008. In July, it signed a seven-year patent license agreement with Taiwan's Nanya Technology Corp.

Mosaid shares, which have gained more than 20 percent in the last three months, closed at C$23.85 Friday on the Toronto Stock Exchange.