WiLAN To Buy VIZIYA - Quick Facts

(RTTNews) - Wi-LAN Inc. (WIN.TO, WILN) and VIZIYA Corp. and its related entities announced a definitive agreement for WiLAN to purchase all of the issued and outstanding shares of VIZIYA. VIZIYA is a software and services provider that helps companies optimize their asset performance. WiLAN's cost of the acquisition will be approximately C$40.5 million with nearly 60% paid on closing and the balance subject to certain earn out provisions.

Headquartered in Hamilton, Ontario, with offices in Brussels, Brisbane, Perth, Atlanta, Cape Town, Qatar, and Dubai, VIZIYA provides bolt-on software products to enhance ERP-based asset maintenance systems. VIZIYA's proprietary WorkAlign Product Suite delivers seamless integration into existing ERP systems.

Shaun McEwan, Interim CEO of WiLAN, said: "On April 17, we announced our intention to acquire International Road Dynamics, and today we announced the acquisition of VIZIYA Corporation. Along with our patent licensing business, these two entities will become subsidiaries of Quarterhill as will future acquisitions. We believe this strategy will better position the company for long-term growth and will mitigate the quarterly variability in our results."