SUNNYVALE, Calif. & NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Rambus Inc. (NASDAQ:RMBS), the innovative technology solutions company, announced today it has transferred a portfolio of patent assets covering display technologies to a subsidiary of Acacia Research Corporation (NASDAQ:ACTG), the leader in patent licensing. 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 be working with Acacia as our licensing partner for these patents because of their experience and success in monetizing IP. This transaction enables us to deliver value to our shareholders while we focus our resources and investments in other areas to bring invention to market,” said Dr. Ronald Black, president and chief executive officer at Rambus.
"Acacia is delighted to be partnering with a technology innovation leader like Rambus,” commented Paul Ryan, chief executive officer at Acacia. “The addition of these assets to our portfolio allows us to grow our base of future revenues."
The set of patents involved in this transaction relate to certain display technologies used in smartphones, tablets, computers, HDTVs and other devices. Rambus has retained a license to use these patents and will continue to build and refine its patent portfolio across its various focus areas, utilizing a variety of ways to monetize its intellectual property.
About Rambus Inc.
Rambus is the innovative technology solutions company that brings invention to market. Unleashing the intellectual power of our world-class engineers and scientists in a collaborative and synergistic way, Rambus invents, licenses and develops solutions that challenge and enable our customers to create the future. While best known for creating unsurpassed semiconductor memory architectures, Rambus is also developing world-changing products and services in security, advanced LED lighting and displays, and immersive mobile media. Additional information is available at www.rambus.com.
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 include those of Paul Ryan relating to our licensing success, the expectation to receive subsequent payments, 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 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, 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.