CLEVELAND and DALLAS, August 16, 2021 – Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF), announces that it has entered into a definitive agreement to acquire 100% of the outstanding equity of Richardson, Texas-based Electronic Transaction Consultants, LLC (“ETC”) from Align Capital Partners for total cash consideration of $120 million (USD) plus transaction related expenses, to be funded by a combination of cash-on-hand and debt financing.  Completion of the acquisition is subject to certain closing conditions.