WiLAN to acquire International Road Dynamics

Canadian patent licensing company WiLAN is to acquire intelligent transportation systems (ITS) supplier International Road Dynamics for an equity value of approximately US $47.4 million (CA$63.5 million). The acquisition is part of WiLAN’s growth strategy which will see it operate under the Quarterhill name from around the beginning of June 2017.
April 20, 2017 Read time: 2 mins

Canadian patent licensing company 8619 WiLAN is to acquire intelligent transportation systems (ITS) supplier 69 International Road Dynamics for an equity value of approximately US $47.4 million (CA$63.5 million). The acquisition is part of WiLAN’s growth strategy which will see it operate under the Quarterhill name from around the beginning of June 2017.

As IRD is an Industrial Internet of Things (IIoT) company specialising in ITS and producing a portfolio of integrated hardware and software solutions to better detect, measure and analyse a variety of transportation challenges, the acquisition fits in with Quarterhill’s growth strategy. Quarterhill will focus on acquiring technology companies in the IIoT segment across multiple verticals. The acquired businesses will operate independently as subsidiaries of Quarterhill. WiLAN will continue as a key subsidiary of Quarterhill focusing on patent licensing.

According to Shaun McEwan, interim CEO of WiLAN, IRD fits its acquisition profile and has built an attractive portfolio of IP protected technology and an enviable track record of financial performance that includes a growing base of recurring revenue and solid cash flow generation.

Terry Bergan, president and CEO of IRD, said, “The Quarterhill platform, once in place, will give us the opportunity to focus 100 per cent of our energy on strengthening and accelerating the growth of our business. We have a history of innovation and look forward to having the expertise of the WiLAN team under the same corporate umbrella.”

Detection, Monitoring & Machine Vision Classification & Data Collection Charging, Tolling & RUC

For more information on companies in this article

Related Content

  • Intel and Inrix collaborate on smart cities platforms
    November 5, 2014
    Inrix and Intel Corporation have announced a strategic collaboration focused on developing next generation smart cities analytics platforms and applications. As part of their collaboration, Intel’s global investment organisation, Intel Capital, is investing US$10 million in Inrix. The two companies recently demonstrated a smart cities application at the White House in Washington, DC. Powered by Inrix real-time traffic information, the application is designed to help the city of San Jose more cost-effect
    Read More
  • IBTTA’s Jones sees turbulent times and a bright future for tolling
    November 10, 2017
    Colin Sowman talks to IBTTA’s Pat Jones about the future of tolling in a fast-changing world. Pat Jones may have been executive director and CEO of the International Bridge, Tunnel and Turnpike Association (IBTTA) for 15 years but in his words: “Never before have I seen so much change coming so fast in the transportation and tolling industry.” Amidst all this change, tolling companies are asked to provide funding for roadway building or improvements which will be repaid for over, say, a 30-year concess
    Read More
  • UK finance house to invest in renewable energy projects
    February 19, 2016
    Following new research from specialist finance house Aurium Capital Markets (Aurium), which reveals that between 2014 and 2015, the number of pension schemes with investments in infrastructure increased by 36 per cent, the company has raised £270 million (US$385.5 million), which includes over £100 million (USS$143 million) from institutional pension funds. It is particularly targeting the pensions sector as it says it is increasing its exposure in infrastructure. Its analysis found 136 pension schemes
    Read More
  • TRL acquires TTR
    April 15, 2014
    The UK’s Transport Research Laboratory (TRL) has announced its acquisition of Transport & Travel Research Limited (TTR), making it a wholly owned subsidiary of TRL. TRL has been a minority shareholder in TTR since 2010, building a close and successful partnership between the two companies. TTR will continue to operate as an independent organisation. TTR’s chairman, David Blackledge has stepped down from the board to take on a role as Special Advisor, while TRL's chief executive, Rob Wallis, is appointed
    Read More

Highlighted Content