Wi-LAN to buy Tri-Vision for $108 million, cable distribution to be spun off

OTTAWA - Wi-LAN and Tri-Vision International announced today that the two companies intend to get together. Specifically: "they have signed a non-binding letter of intent ("LOI") for a business combination under which Tri-Vision's common shares would be exchanged for common shares of Wi-LAN based on a price of $1.72 per Tri-Vision common share (the "Transaction"). On a fully-diluted basis, the Transaction values Tri-Vision at approximately $108 million." Tri-Vision is best known for its V-chip technology for which it owns the North American patent rights and licenses to TV set manufacturers. Tri-Vision's U.S. Patent licensing campaign now includes 42 licensees, representing...