PCTEL (PCTI) Settles Intellectual Property Dispute with Wilder Networks

November 10, 2009 9:22 AM EST

PCTEL, Inc. (NASDAQ: PCTI) announced today that it has settled its intellectual property dispute with Wider Networks. Under the terms of the agreement, PCTEL has acquired the two patents underlying Wider Networks' products. PCTEL also acquired exclusive distribution rights to Wider's product portfolio and will incorporate Wider's products into PCTEL's product portfolio.

Wider Networks will receive total consideration of $1.2 million for its patents and the distribution rights to its products. Wider Networks will continue to design, develop, and manufacture the Wider products that PCTEL will distribute. The Wider executive team will train the PCTEL sales force on these products.

"We are pleased to team with Wider Networks and have this matter behind us," said Marty Singer, PCTEL's Chairman and CEO. "Wider has developed a compelling product that we are pleased to represent to our customers as an important element of our product portfolio. This arrangement also enhances PCTEL's intellectual property portfolio and strengthens our leadership in interference management," added Singer.

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