Acacia Research Corporation Announces CEO Transition; Names Matthew Vella as
Chief Executive Officer and Director
NEWPORT BEACH, Calif. -- July 5, 2013
Acacia Research Corporation (Nasdaq: ACTG) announced today that its board of
directors has appointed Matthew Vella, Acacia’s current President, as Chief
Executive Officer and a director effective August 1, 2013. Mr. Vella will
continue to serve as President of Acacia. Paul Ryan, Acacia’s current Chief
Executive Officer and a director, has announced his intent to retire and will
accordingly resign as Chief Executive Officer and as a director of Acacia,
effective July 31, 2013.
Mr. Ryan commented, "In anticipation of my retirement I want to thank all of
the very talented employees who have built Acacia into a premier patent
licensing company. Acacia has a very deep and experienced management team and
I along with our Executive Chairman, Chip Harris, and all of our board of
directors are very confident that with Matthew Vella as CEO, the company will
continue to build its leadership role in the industry."
Mr. Vella joined Acacia in November 2006 as Vice President. He was appointed
Senior Vice President in October 2007, Executive Vice President in October
2011 and President in September 2012. Prior to joining Acacia, Mr. Vella was
Senior Intellectual Property Counsel for ATI Research, Inc., Lead Patent
License Counsel for Nortel Networks, Inc. and Counsel for Nortel Networks
Executive Chairman, Chip Harris, commented, "Paul and I have worked together
for the last 13 years and we have added many highly talented individuals with
expertise in the patent licensing business to the Acacia team. We started
working on this succession plan over 18 months ago. Following Paul's 68th
birthday, this new management structure is the culmination of that process.
Paul was instrumental in Acacia's success and he will be sorely missed by our
shareholders, employees and patent partners. I look forward to having the same
type of relationship with Matt Vella as I did with Paul.Paul and I and all of
the members of the board of directors have every confidence that Matt has the
leadership skills and expertise to assume this new role."
"Paul has been a pioneer in the patent licensing industry, and has made an
immeasurable contribution to Acacia's shareholders, employees and patent
partners. Though Paul's leadership shall be missed by all of us, we can take
solace in the strength of the company he has built and the team he has
assembled, as Acacia embarks on the next stage of its evolution towards
becoming the leading patent licensing company," commented Mr. Vella.
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 over 250 patent portfolios,
covering technologies used in a wide variety of industries.
Information about Acacia Research Corporation and its subsidiaries is
available at www.acaciaresearchgroup.com and www.acaciaresearch.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
This news release may contain forward-looking statements within the meaning of
the “safe harbor” provisions of the Private Securities Litigation Reform Act
of 1995. Such statements, including those of Mr. Ryan relating to Acacia
building its leadership role in the industry, are based upon our current
expectations and speak only as of the date hereof. Our actual results may
differ materially and adversely from those expressed in any forward-looking
statements as a result of various factors and uncertainties, including the
continued leadership role of Mr. Vella at the Company, legislative and
regulatory changes affecting our industry, and other factors as detailed in
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. We undertake no obligation to revise or update publicly any
forward-looking statements for any reason.
Acacia Research Corporation
Tel: (949) 480-8300
Fax: (949) 480-8301
President & Founder
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