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Components | November 01, 2011

WiLAN confirms it does not intend to increase offer

Wi-LAN Inc. confirmed that it does not intend to increase its USD 42.00 per share offer to acquire MOSAID Technologies Inc.

The WiLAN Board believes that it is not in the best interests of WiLAN shareholders to increase its Offer to exceed the $46.00 per share offer made by Sterling Partners (“Sterling”) and announced by Mosaid last week in a going-private transaction. Assuming the proposed transaction between Mosaid and Sterling is consummated; WiLAN will generate a gain of C$3.6 Million on the tender of its Mosaid shares to Sterling, which will assist significantly in defraying costs associated with the Offer.
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