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Acacia licenses media technology to Disney
February 26, 2004 12:58:00 PM ET
LOS ANGELES, Feb 26 (Reuters) - Acacia Research Corp. on Thursday said it has licensed its digital media transmission technology to a unit of the Walt Disney Co. (DIS), sending its shares soaring more than 9 percent.
The Newport Beach, California-based company's Acacia Technologies Group (ACTG) said the license agreement with Disney Enterprises also includes the Walt Disney Internet Group.
Acacia said it has now signed 116 licensing agreements for its digital media technology. The company, which also has a life-sciences technology unit, had a net loss of $24.4 million in 2003 on revenue of $1.1 million.
Shares in Acacia Technologies, a stock issued by Acacia Research to track the performance of the unit, were up 51 cents, or 9.2 percent, at $6.07 in afternoon trade on Nasdaq. REUTERS