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Press Release Source: Acacia Research Corporation and CombiMatrix
Acacia Technologies Plans to Acquire Rights to 27 New Patent Portfolios
Thursday December 16, 8:01 am ET
Acquisition Would Significantly Expand Revenue Generating Opportunities from 121 Patents
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Dec. 16, 2004--Acacia Research Corporation (Nasdaq:ACTG - News; Nasdaq:CBMX - News) announced today that it has signed a binding Letter of Intent to acquire the assets of Global Patent Holdings, LLC, a privately held patent holding company based in Northbrook, Illinois, which owns 11 patent licensing companies including TechSearch, LLC (www.techsearch-llc.com). The acquisition would give the Acacia Technologies Group control of companies with 27 patent portfolios, which include 121 U.S. patents and certain foreign counterparts, and cover technologies used in a wide variety of industries. Eleven of the patent portfolios have been partially licensed and have generated over $40 million in non-recurring, gross licensing revenues to date.
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The total cost of the transaction is expected to be $5 million in cash and approximately 3.9 million shares of Acacia Research--Acacia Technologies stock, at closing, and an additional $2 million in cash to be paid over two years. The transaction is expected to close within 45 days, pending completion of final due diligence by Acacia.
"This acquisition would significantly expand and widely diversify our revenue generating opportunities and would accelerate the execution of our business strategy of acquiring, developing and licensing patented technologies by 2 to 3 years," said Paul Ryan, Chairman & CEO of Acacia.
"We look forward to working closely with Anthony O. Brown, Global's CEO, and his team including inventors of these patented technologies and the leading law firms that Tony has assembled. Acacia's licensing, engineering and legal teams would further enhance and optimize the revenue potential of these patent portfolios. We will continue to acquire additional portfolios, as Acacia moves toward its goal of becoming the leading technology licensing company," concluded Mr. Ryan.
The new patents relate to certain aspects of various technologies or products, including:
Broadcast Equipment
Broadcasting and Data Transmission
Cache Coherency
Credit Card Receipt Processing
Data File Synchronization
Datamatrix Bar Codes
Dynamic Manufacturing Models
Encryption and Product Activation
Hand Held Endoscopes
Image Resolution or Enhancement
Interactive Simulation Systems
Interstitial Internet Advertising
Peer to Peer Network Communications
Programs for Resource Scheduling/Displaying Interrelated
Tables
Spreadsheet Programs
Video Noise Reduction and Audio/Video Synchronization
stock up huge on the news
Welcome [Sign In] To track stocks & more, Register
Financial News
Enter symbol(s) BasicPerformanceReal-time MktDetailedChartResearchOptionsOrder Book Symbol Lookup
Press Release Source: Acacia Research Corporation and CombiMatrix
Acacia Technologies Plans to Acquire Rights to 27 New Patent Portfolios
Thursday December 16, 8:01 am ET
Acquisition Would Significantly Expand Revenue Generating Opportunities from 121 Patents
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Dec. 16, 2004--Acacia Research Corporation (Nasdaq:ACTG - News; Nasdaq:CBMX - News) announced today that it has signed a binding Letter of Intent to acquire the assets of Global Patent Holdings, LLC, a privately held patent holding company based in Northbrook, Illinois, which owns 11 patent licensing companies including TechSearch, LLC (www.techsearch-llc.com). The acquisition would give the Acacia Technologies Group control of companies with 27 patent portfolios, which include 121 U.S. patents and certain foreign counterparts, and cover technologies used in a wide variety of industries. Eleven of the patent portfolios have been partially licensed and have generated over $40 million in non-recurring, gross licensing revenues to date.
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The total cost of the transaction is expected to be $5 million in cash and approximately 3.9 million shares of Acacia Research--Acacia Technologies stock, at closing, and an additional $2 million in cash to be paid over two years. The transaction is expected to close within 45 days, pending completion of final due diligence by Acacia.
"This acquisition would significantly expand and widely diversify our revenue generating opportunities and would accelerate the execution of our business strategy of acquiring, developing and licensing patented technologies by 2 to 3 years," said Paul Ryan, Chairman & CEO of Acacia.
"We look forward to working closely with Anthony O. Brown, Global's CEO, and his team including inventors of these patented technologies and the leading law firms that Tony has assembled. Acacia's licensing, engineering and legal teams would further enhance and optimize the revenue potential of these patent portfolios. We will continue to acquire additional portfolios, as Acacia moves toward its goal of becoming the leading technology licensing company," concluded Mr. Ryan.
The new patents relate to certain aspects of various technologies or products, including:
Broadcast Equipment
Broadcasting and Data Transmission
Cache Coherency
Credit Card Receipt Processing
Data File Synchronization
Datamatrix Bar Codes
Dynamic Manufacturing Models
Encryption and Product Activation
Hand Held Endoscopes
Image Resolution or Enhancement
Interactive Simulation Systems
Interstitial Internet Advertising
Peer to Peer Network Communications
Programs for Resource Scheduling/Displaying Interrelated
Tables
Spreadsheet Programs
Video Noise Reduction and Audio/Video Synchronization
stock up huge on the news
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