Acacia Expands Patent Licensing Business into the Energy Industry with Subsidiary Acquisition of Pat
Acacia Expands Patent Licensing Business into the Energy Industry with Subsidiary Acquisition of Patents Relating to Oil and Gas Production Technology
NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Acacia Research Corporation (NAS: ACTG) announced today that it has expanded its business to include patented technologies in the energy industry, as a subsidiary has acquired patents relating to oil and gas production. The patents relate to solids separation technology which addresses removal of solids from drilling fluids used in oil and gas wells.
Acacia's CEO Paul Ryan, commented, "We see the energy industry as a significant new market for the continued expansion of our patent licensing business in 2013. Acacia has been very successful in generating revenue sharing with patent owners in the technology sector. In 2012 Acacia began to expand its business with the successful entry into the medical technology and automotive industries. Acacia plans to continue this expansion and partner with patent owners who have developed new technological advances in all areas of the energy industry."
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 250 patent portfolios, covering technologies used in a wide variety of industries.
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 Mr. Ryan pertaining to the energy industry as a significant new market for expansion of our patent licensing business, and statements about Acacia's plans to partner with patent owners in the energy industry, are based upon our current expectations and speak only as of the date hereof.Our ability to expand into the energy industry and partner with patent holders in the same industry, and our actual results related thereto, may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the ability to gain expertise, successfully develop licensing programs and attract new business within and throughout the energy industry, rapid technological change in relevant markets especially the energy industry, 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 with respect to technologies and advancements prevalent within the energy industry, the recent economic slowdown affecting technology companies and the energy industry, 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.
Acacia Research Corporation
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