Acacia Subsidiary Partners with Owner of Patent Portfolio for Oil and Gas Production Technology
NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Acacia Research Corporation (NAS: ACTG) announced today that a subsidiary has obtained rights to a patent portfolio relating to oil and gas production and will share licensing revenue with the patent owner. The portfolio comprises 4 US and 27 foreign patents that relate to polymer based drilling fluids which are widely used in the drilling of 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 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 Paul Ryan relating to the energy industry as a significant new market for expansion and Acacia's plans to continue partnering with patent owners in the energy industry, are based upon our current expectations and speak only as of the date hereof. Our ability to become the licensing partner for patent owners in the energy industry, and our ability to grow our base of future revenues by adding new patent portfolios within the energy industry may differ materially and adversely from that expressed in any forward-looking statements as a result of various factors and uncertainties, including the ability to identify and secure patent partners in the energy industry, the ability to successfully develop licensing programs and attract new business within the energy industry, the recent economic slowdown affecting technology companies, 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.
Acacia Research Corporation
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