OTTAWA, ONTARIO — (Marketwire) — 10/19/11 — MOSAID Technologies Inc. (TSX: MSD) today advised shareholders not to take any action until further notice with regard to an announcement by Wi-LAN Inc. that it has increased its unsolicited offer to acquire MOSAID.
“MOSAID-s Special Committee is discussing potential value-enhancing alternatives with third parties and will review, consider and evaluate Wi-LAN-s bid in that context,” said Carl P. Schlachte, Chairman of the Board and Special Committee of MOSAID. “Following the Special Committee-s review, and before the expiry of Wi-LAN-s increased offer, the Board will provide a recommendation to shareholders.”
As previously disclosed, MOSAID continues to actively pursue negotiations with third parties that are in the process of reviewing MOSAID-s confidential information with a view to surfacing additional alternatives. MOSAID provided an update on its process to the Ontario Securities Commission last week during a hearing on MOSAID-s Shareholder Rights Plan.
MOSAID advises its shareholders not to tender to Wi-LAN-s increased offer before the Board provides its recommendation, which will be contained in an updated directors- circular that will be mailed to shareholders and posted on the MOSAID website and on SEDAR.
Enquiries concerning Wi-LAN-s take-over bid, including how to withdraw any shares that you have already tendered to the bid, may be directed to MOSAID-s information agent, Georgeson Shareholder Communications Canada Inc., at 1-888-605-7632 or .
About MOSAID
MOSAID Technologies Inc. is one of the world-s leading intellectual property companies. MOSAID licenses patented intellectual property in the areas of semiconductors and communications, and develops semiconductor memory technology. MOSAID counts many of the world-s largest technology companies among its licensees. Founded in 1975, MOSAID has offices in Ottawa, Ontario, Plano, Texas and Luxembourg. For more information, please visit and .
Contacts:
Investor and Media Inquiries
Michael Salter
Senior Director, Investor Relations
and Corporate Communications
613-599-9539 x1205
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