NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Acacia Research Corporation (Nasdaq:ACTG) announced today that a subsidiary has acquired the rights to an automotive illumination patent portfolio from Rambus Inc. (Nasdaq: RMBS), the innovative technology solutions company. The portfolio relates to automotive and vehicular illumination applications including headlights, taillights, and internal and external lighting. As part of this transaction, Rambus received an initial upfront payment and is expected to receive subsequent payments. Specific terms of the transaction are confidential.
“We are pleased to have acquired the rights to this portfolio as it demonstrates our growing strength and opportunity in the automotive sector,” commented Paul Ryan, Acacia CEO. “As our licensing success grows, an increasing number of major technology companies are selecting us to help them realize value from their R&D investment and monetize their intellectual property assets.”
ABOUT ACACIA RESEARCH CORPORATION
Acacia Research Corporation’s subsidiaries partner with inventors and patent owners, license the patents to corporate users, and share the revenue. Acacia Research Corporation’s subsidiaries control over 250 patent portfolios, covering technologies used in a wide variety of industries.
Information about Acacia Research Corporation and its subsidiaries is available at www.acaciaresearchgroup.com and www.acaciaresearch.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements including those of Paul Ryan relating to our strength and opportunity in the automotive sector, the expectation to receive subsequent payments, our licensing success, the number of major technology companies selecting us as their partner, and the growth of our base of future revenues are based upon our current expectations and speak only as of the date hereof. Our ability to expand into the automotive sector, to become the licensing partner for companies, and our ability to grow our base of future revenues by adding new patent portfolios may differ materially and adversely from that expressed in any forward-looking statements as a result of various factors and uncertainties, including the economic slowdown affecting technology companies, the ability to successfully develop licensing programs and attract new business in the automotive sector and in general, rapid technological change in relevant markets, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments addressing licensing and enforcement of patents and/or intellectual property in general, and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.