RE:From BB Q3 Conference Call transcript It is difficult to compare the valuations of Blackberry's intellectual property (IP) and Wilan's, but it is estimated that Blackberry's IP is likely worth around 4-6 times more than Wilan's. If Blackberry's IP is sold for a price of $600 million(USD), it can be assumed that Wilan is worth approximately $100-125 million. If there are any buyers willing to pay more than $100 million for Wilan, the management should consider selling it and distributing at least 70% of the proceeds as a special dividend.
However, the management should be cautious when considering selling Wilan. They should consider the example of Dorel Industries, whose stock price has trended downward since selling their main business segment. If Quarterhill's board cares for the investors, they should focus on improving the operation of the ITS business to demonstrate its solidity. Only then should they consider selling Wilan in order to focus solely on the ITS business.