WiLAN raises All Cash Offer to acquire Mosaid

Wi-LAN Inc. has increased its fully funded all cash Offer to acquire Mosaid Technologies Incorporated by 11% to $42.00 per Mosaid Common Share. WiLAN has no intention to further revise or extend its Revised Offer. The Revised Offer is not subject to any financing contingencies. WiLAN will finance the Revised Offer through cash on hand and previously arranged financing.

“It has been more than two months since WiLAN announced its intention to acquire Mosaid. We believe it to be a compelling and full offer, particularly in light of current market conditions.” Jim Skippen, Chairman and CEO WiLAN

“We continue to believe that combining our two Ottawa-based firms is a unique and exciting opportunity to create a global IP licensing powerhouse that combines the talent of two great teams. We expect to retain the vast majority of Mosaid staff upon successful completion of this transaction,” said Jim Skippen, Chairman and CEO. “Acquiring Mosaid fits perfectly within our long-term growth strategy and our commitment to increasing shareholder value. The acquisition of Mosaid remains accretive to WiLAN’s adjusted earnings per share in fiscal 2012 and has the unanimous support of the WiLAN Board.”