Acacia Research Corporation (ACTG) is an American company based in Newport Beach, California, that works to license patents and perform relevant legal action such as dealing with patent infringement. Acacia is sometimes referred to as a non-practicing entity because the company derives revenue from licenses and lawsuits rather than from building products. According to the company, it has returned over $643,066,000 to patent owners. The corporation creates a subsidiary company for each set of patents it enforces. Currently, 95% of the company's business involves partnering with inventors and patent holders. It currently has 229 known subsidiaries and 257 active cases as of September 2014, four of which are not through a subsidiary.
Reported after close today (4/21/16) Earnings: EPS $0.05 and revenue $24.7M Estimates: EPS $0.04 and revenue $23.5M
Heads up longs! ACTG rocking this morning! Veritone Closes $50 Million Funding Agreement with Acacia Research Corporation to Drive Next Generation AI Search and Analytics Business Wire "Press Releases - English" Leading Patent Experts Back Revolutionary Audio and Video Analytics Technology Powered by Artificial Intelligence NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Veritone, Inc., the leading cloud-based Artificial Intelligence (AI) media technology company pioneering the worlds first Cognitive Media Platform (CMP), announced today that it has signed a funding agreement with leading patent investment group, Acacia Research Corporation (NASDAQ: ACTG), for up to $50 million in working capital. The funding is structured as an initial $20 million convertible investment, with a contingent additional investment of $30 million based on Veritones achievement of set milestones, for a total investment consideration of $50 million.
