John Lindgren of MOSAID (photo supplied)

MOSAID Technologies Inc. has finally found its first licensee for its new wireless patents.

The Ottawa-based patent licensing company, which last year bought a portfolio of 20 wireless technology patents for $70 million but had not found a licensee for those patents until now, said Matsushita Electric Industrial Co. Ltd. had signed up for a six-and-half-year term licence.

Matsushita, which is the parent company of the Panasonic brand, has licensed MOSAID's wireless patents for its Wi-Fi, WiMAX and CDMA-enabled notebook PCs and other products sold worldwide, with the exception of mobile handsets.

"Our licence agreement with Matsushita is the first signed under this wireless patent portfolio since we acquired it from Agere Systems, now LSI Corp., just over a year ago, and is a milestone event that confirms the strength and breadth of the portfolio," said MOSAID chief executive John Lindgren in a statement. "With this agreement, we continue to deliver on our financial and operational objectives for fiscal 2008, which include signing both wireless and semiconductor patent licences."

Matsushita is already signed up for MOSAID's memory patent portfolio.

MOSAID did not disclose the financial terms of the agreement.