TOKYO & NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Acacia Research Corporation (http://acaciaresearch.com/) (NASDAQ: ACTG) announced today that Renesas Electronics Corporation (http://am.renesas.com/) (TSE: 6723), a premier supplier of advanced semiconductor solutions, and Acacia, a leader in patent licensing, have agreed to a new phase in their strategic patent licensing alliance. Pursuant to this new agreement, Acacia will receive broad and lengthy access to the worldwide patent portfolio of Renesas Electronics.
“We are very excited about this new and strengthened strategic relationship between these two leading companies,” said Matthew Vella, CEO of Acacia Research Corporation. “In this new agreement, Acacia will enjoy considerable flexibility and latitude in licensing the expansive patent portfolio of Renesas. This is going to greatly benefit both companies for years to come.”
The head of Acacia’s Tokyo Office, Hiro Seki, Sr. VP & GM Asia, said, “This is a great honor for Acacia and is proof that we are regarded as a valuable business partner to Renesas. I am extremely pleased that Acacia has successfully met the sensitive business needs of our Japanese partner resulting in this new and enhanced strategic patent licensing agreement.”
ABOUT ACACIA RESEARCH CORPORATION
Founded in 1993, Acacia Research Corporation (NASDAQ: ACTG) is the industry leader in patent licensing. An intermediary in the patent marketplace, Acacia partners with inventors and patent owners to unlock the financial value in their patented inventions. Acacia bridges the gap between invention and application, facilitating efficiency and delivering monetary rewards to the patent owner.
For more information, visit: 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 Matthew Vella relating to receiving broad and lengthy access to the Renesas patent portfolio, along with the latitude to license the same portfolio, are based upon our current expectations and speak only as of the date hereof. Our ability to ensure continued access to the Renesas patent portfolio and our success in licensing this broad portfolio, including our ability to grow our base of future revenues from access to the Renesas patent portfolio may differ materially and adversely from that expressed in any forward-looking statements as a result of various factors and uncertainties, including the extent to which Acacia can identify patent portfolios of sufficient quantity and quality which have substantial economic life and which cover technological advances that are prevalent in the relevant markets, the ability to successfully develop licensing programs based on specific Renesas patent portfolios, 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.