Monday, January 31, 2005
Acacia Acquires Patent Portfolio
Newport Beach-based Acacia Research has acquired the assets of Global Patent Holdings LLC, a privately held patent holding company based in Illinois, for $5M plus 3.9M shares of its stock. According to Acacia, it will use the patents to expand its revenue generating opportunities. Acacia has actively been pursuing companies who it feels infringes on its patent portfolio in the areas of video on demand and broadband video streaming. Separately, the company said that it has promoted Rob Berman to COO of the company, and hired Dooyong Lee of Global Patent Holdings as EVP Business Development.